ICRA says renewables to reach 35% of India’s power mix by 2030
- Admin
- Sep 24, 2024
- 2 min read
ICRA predicts that India's share of renewables in its power generation mix will rise to 35% by fiscal year 2029-30, with a decrease in coal's share to 59%. The Indian government aims for 50% of installed power capacity to come from non-fossil fuel sources by 2030. Renewable purchase obligations (RPOs) are set to drive renewable energy consumption to meet climate goals. The country will need to double its renewable capacity by 2030, highlighting investment needs in energy storage and grid integration. ICRA expects substantial growth in electric two-wheelers, three-wheelers, and buses in India, with a requirement for charging infrastructure and battery technology.
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