India has set a target of installing 500 GW non-fossil power capacity by 2030. While the doubling of renewable energy (RE) capacity addition in 2024 compared to 2023 is a positive development, annual capacity addition will need to increase further in the future. The announcement of a five-year bidding trajectory in March 2023, of 50 GW per year, and the tendering of ~50 GW in FY24, represent credible steps towards achieving the 500 GW target.
Can India sustain the ~50 GW per year bidding trajectory until FY28?
Can this bidding trajectory translate to a corresponding increase in capacity addition?
Could constraints on land availability at suitable sites hinder the pace of capacity addition?