New Delhi: India’s renewable energy sector reported a 420 per cent year-on-year growth in capacity addition in June 2025, rising from 1.4 GW last year to 7.3 GW this year, Union Minister for New and Renewable Energy Pralhad Joshi said on Tuesday at the IVCA Renewable Energy Summit 2025 in Mumbai.

The Minister highlighted that India has seen a 4,000 per cent growth in solar energy capacity—rising from 2.82 GW in 2014 to 117 GW in 2025. Wind energy capacity increased from 21 GW to 51.7 GW in the same period, registering a 140 per cent rise.

Cost reductions and policy support driving change
Solar tariffs have declined by 80 per cent—from ₹10.95/unit in 2010–11 to ₹2.15/unit currently. “As a result, even solar with battery storage now costs less than thermal, saving up to ₹2 per unit,” Joshi said.

He noted that 83 per cent of power sector investments in 2024 were directed towards renewables. “We were the largest recipient of global energy development finance, attracting $2.4 billion (₹20,040 crore) for clean energy in a single year,” Joshi said.

FDI inflows and investor returns
Since 2020, foreign direct investment in the sector has crossed ₹1.6 lakh crore ($20 billion), with ₹42,000 crore ($5 billion) in 2023 alone. In Q1 2025, clean energy investment surged 7.7 times year-on-year to $9.8 billion (₹81,700 crore).

“Investors who backed this transition have already seen multifold returns. So should you,” Joshi said, inviting capital participation in the sector.

Green hydrogen and large-scale projects
The ₹19,744 crore National Green Hydrogen Mission is aimed at making India a global hub for green hydrogen production, usage, and export. “Our first hydrogen-powered heavy-duty truck trials are already on the roads,” he added.

Citing major infrastructure projects, Joshi said, “In Gujarat’s Kutch district, we are building what will be the world’s largest renewable energy park—30 GW of solar and wind combined.”

Renewable manufacturing sees rapid expansion
Under the PLI scheme, India’s solar module manufacturing capacity has more than doubled from 39 GW to 91 GW in one year. Solar cell capacity increased from 11 GW to 25 GW.

Among the allocations under the PLI scheme:

1. 17.5 GW of module capacity awarded to six manufacturers (out of 48.3 GW total)
2. 6 GW of cell capacity awarded to two manufacturers (out of 44.9 GW total)
3. 2 GW of ingot-wafer capacity awarded to one manufacturer (out of 37.5 GW total)

Joshi said the country is now aiming to auction 50 GW of renewable capacity every year, including a guaranteed 10 GW of wind power.

Waste-to-energy and sectoral transformation

The minister also mentioned India’s largest waste-to-energy plant in Ahmedabad, which converts 1,000 tonnes of solid waste daily into electricity. “These are examples of how India’s energy transition is not only sustainable but also inclusive, benefiting cities, farmers, and communities,” he said.

Joshi concluded, “Let us join hands to power India’s transformation into a renewable energy superpower, creating long-term value for investors, for our economy, and for the planet.”

Reference : https://energy.economictimes.indiatimes.com/news/renewable/india-adds-7-3-gw-renewable-capacity-in-june-clean-energy-fdi-crosses-1-6-lakh-crore-joshi/122490027?utm_

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Through one of the largest investments seen so far in the solar manufacturing space in India, the plant in Greater Noida will boost SAEL’s total module manufacturing capacity to 8.5 GW.

Construction is expected to begin this year.

The move aligns with India’s push to localise solar manufacturing. From June 2026, only domestically made solar cells from approved manufacturers will be allowed in government projects.

India currently has 80 GW of module manufacturing capacity but about 15 GW of cell capacity, with most modules relying on Chinese imports.

SAEL operates assets capable of generating more than 6.7 GW of solar power, including operational and constructional projects, and aims to drive that to 10 GW in three years. The company has already raised more than $2.4 billion in equity and debt, and has issued a $305-million green bond in 2024.

“By 2030, tentatively, we are looking at a power generation capacity of around 18 to 20GW as an independent power producer,” Laxit Awla, CEO of SAEL Industries said.

The company also plans to file for an initial public offering this year, Awla said, declining to share more details about the timing and size of the IPO.

SAEL’s revenue from its biomass and independent power production business nearly doubled to 6.87 billion rupees in fiscal 2025 from fiscal 2023. The company aims to grow its revenue from these businesses to 30.94 billion rupees by fiscal year 2027.

($1 = 85.9500 Indian rupees)

Reference : https://www.reuters.com/sustainability/climate-energy/indian-clean-energy-firm-sael-invest-954-mln-solar-manufacturing-plant-2025-07-14/

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