India adds 20 GW of solar in 12 months to October
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.
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.
“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.”
