India installing 100 GW solar capacity will inspire nations to accelerate energy transition: NSEFI

New Delhi, Feb 8 (PTI) India’s achievement of installing 100 gigawatts (GW) of solar capacity will inspire developed and developing nations to accelerate energy transition, industry body NSEFI said.

On Friday, Union New and Renewable Energy Minister Pralhad Joshi said India has achieved the historic milestone of 100 GW solar capacity powered by government’s commitment to a cleaner, greener future.

“India is the 4th largest country after China, US, and Germany to cross the 100 GW milestone. While we are trailing Germany by a small margin, we will soon be the 3rd largest solar market in the world. It is an inspiration to several countries (both developed and developing), especially the Global South, to learn and understand how to enable accelerated energy transition,” Subrahmanyam Pulipaka, the CEO of National Solar Energy Federation of India (NSEFI), said.

This development marks a new era in India’s journey towards realising its climate targets, he said.

Pulipaka emphasised that India’s energy transition landscape has witnessed acceleration in installing renewable energy capacity over the last decade. In 2014, solar installation was at 3 GW.

The achievement is a result of business-friendly ecosystem aided by supportive government policies.

India will be adding 35-40 GW of solar capacity in the next financial year and then scale to 40-45 GW in 2026-27.

Apart from the activity surrounding utility scale bids, there is also a positive trend in commercial and industrial uptake for renewable energy that is encouraging.

The Centre’s flagship schemes — PM Surya Ghar Muft Bijli Yojana as well as PM KUSUM — are also contributing significantly to capacity addition.

NSEFI is India’s largest umbrella organisation for renewable energy and represents industry from solar PV, wind energy, energy storage, green hydrogen, small hydro and bio energy.