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In FY24, a web energy technology capability of 25.9 GW was added, a big enhance from the 16.6 GW added in FY23. Renewable vitality led this development, contributing 18.5 GW of recent capability, adopted by coal/lignite at 5.7 GW (22.1 per cent). Notably, nuclear capability (1.4 GW) was added for the primary time since FY17.
Photo voltaic (grid-scale and rooftop) remained the dominant supply of renewable vitality capability additions, contributing 15 GW (81.3 per cent) in contrast with 12.8 GW in FY23. Wind capability additions reached 3.3 GW (17.6 per cent), up from 2.3 GW in FY23. Small hydro and bio-power accounted for 0.3 per cent and 0.8 per cent, respectively.
The whole put in capability reached 442 GW in FY24, with renewables accounting for 143.6 GW (32.5 per cent) and huge hydro contributing 46.9 GW (10.6 per cent). Coal’s share dropped beneath 50 per cent to 49.2 per cent (217.6 GW).
Gagan Sidhu, Director at CEEW-CEF, highlighted that India’s problem with renewable vitality lies in scaling up financing, particularly to satisfy the annual bid capability. He recommended unlocking the home bond marketplace for company inexperienced bond issuances as a catalyst for attaining this scale.
- Additionally learn:Clear vitality: Story of respectable numbers, but missed targets
As of December 31, 2023, 87.5 GW of RE capability was below building, together with 54.8 GW of photo voltaic, 19.2 GW of wind and 13.2 GW of hybrid capability, amongst others.
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