India houses a combined installed capacity of 89+ GW being produced by renewable energy sources. The country has set an ambitious target of achieving the world’s largest expansion plan in renewable energy at 450 GW by 2040. Renewable energy will account for 55% of the total installed power capacity by 2030.
As of August 31, 2020, the total installed renewable energy capacity stood at 88.79 GW. The sector is expected to attract investment worth US$ 80 billion in the next four years.
Wind and Solar energy have doubled between 2015 and 2020 and constitute 37.99 GW and 35.73 GW, respectively of the total renewable energy capacity. India was the 3rd largest country by adding solar photovoltaic capacity in 2019 and the 4th largest installed capacity of wind power in the world.
Biomass and small hydro power constitute 10.14 GW and 4.73 GW of India’s total renewable energy capacity. About 5,000 Compressed Biogas plants will be set up across India by 2023.
By 2040, around 49% of the total electricity will be generated by renewable energy. As part of the Green energy corridor, 12600 km of inter-state and intra-state transmission lines will be set up to deliver power sourced from renewable energy infrastructure.