India Adds 1 GW Of New Renewable Capacities In April 2024

India Adds 1 GW Of New Renewable Capacities In April 2024

The latest data from the Ministry of New and Renewable Energy (MNRE) said that India added a total of 1.1 GW of new renewable energy capacities in April 2024. This was propelled by the surge in the additions of solar and wind energy capacities. With the additions of new solar and wind capacities, India’s total renewable energy capacity (excluding hydro) touched 144.75 GW. 

As per the latest statistics issued by the MNRE, India added a total of 824 MW of new solar capacities in April 2024. During the same time period, India added a total of 275 MW of wind capacity. Compared to the same period in 2023-24, the additions of solar and wind capacities have picked pace. However, when we compare these to March, the preceding month, then there is the predictable drop as many  developers raced to meet the March 31 deadline for the financial year as well.

As per the comparative figures, India witnessed a decline in new solar additions upto 88% on a month-on-month basis. While the total additions of solar power in April 2024 stood at 824 MW, the total solar power capacity added in March 2024 stood at 6,237 MW. 

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At the same time on a month-on-month basis, India’s new wind capacities slipped by 62%. While India reported a new wind energy capacity addition of 275 MW in April 2024, the total addition of wind power in March 2024 stood at 733 MW. 

In April 2023, India added 297 MW of solar capacity while during the same period in 2024, the country added 824 MW, showing a surge of 177 percent. Wind energy additions also increased from 235 MW (in April 2023) to 275 MW, reporting a 17 percent increase, the MNRE report said. 

With the additions of new solar and wind capacities, India’s total renewable energy capacity (excluding hydro) touched 144.75 GW. This comes at a time when India plans to add around 50 GW of new renewable energy capacities each year to reach to its target of achieving its target of 500 GW of non-fossil fuel capacities. 

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One has to say that at this stage, the 500 GW target looks distant for more than reason, as many other parts of the chain don;lt seem to be prepared for the level of ramp up required to hit those numbers.

From tendering, to land acquisition, to materials and manpower, the situation is certainly grim, if we think from that perspective. However, for now, everyone should be happy enough with the incremental improvements, especially domestic module manufacturers who no longer have to worry about Chinese competition in modules.

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