Indian PV developers installed 20 GW of solar in the 12 months to October, bolstered by a strong project pipeline. SBI Capital Markets projects 50 GW of combined solar and wind capacity additions in fiscal 2025 and 2026.
From pv magazine India
India added 30 GW of new power capacity in the 12 months to October 2024, bringing cumulative installations to 454 GW, according to SBI Capital Markets. Renewables accounted for 22.5 GW of the additions, with solar alone contributing 20 GW.
Wind capacity and energy storage surged, driven by RTC, FDRE, and WSH tenders. Storage requirements featured in one-third of RE tenders in FY 2025, up from 23% in FY 2024.
SBICAPS projects 50 GW of solar and wind additions by FY 2026, with north and south regions set to lead capacity growth by 2032.
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“Western region’s share in the installed power capacity will dip from 33% now to 25% by March 2032,” said SBI Capital Markets. “This is even as it remains an important consumer of energy and a secondary driver of the national peak.”
It noted a growing gap between installed power capacity and generation in western, eastern, and northeastern India by March 2032, stressing the need for stronger transmission infrastructure to move power from northern and southern regions. Remote renewable hubs in deserts require significant greenfield expansions.
It states annual transmission network additions must double to integrate renewable capacities effectively. Of the 114,687 km of lines and 776 GVA of substations planned for 2022-27, only 28% and 20%, respectively, have been completed. Half of these projects have yet to begin construction.
