India is rapidly becoming one of the world's largest green energy producers. According to data from the Ministry of New Energy and Renewable Energy, as of October 31, 2020, India’s total installed capacity of renewable energy has exceeded 89.63 GW. The Indian government said that in the past six years, India has witnessed the fastest increase in renewable energy production capacity among all large economies. Renewable energy production capacity has increased by 2.5 times and solar energy has increased by more than 13 times. Now, renewable energy accounts for more than 24% of the country’s installed capacity and about 11.62% of the country’s power generation.

In addition, if large-scale hydropower is included, the share of renewable energy in the installed capacity of electricity will exceed 36%, and the share of electricity generation will exceed 26%. In addition, about 49.59 GW of renewable energy installed capacity is being installed, and another 2,741 GW of installed capacity has been tendered. This brings the total capacity already in use and in progress to approximately 166.63 GW.

The government stated that in addition to this, the installed hydropower capacity of large hydropower (also declared as renewable energy) is approximately 45 GW, and the installed capacity being installed is 13 GW, which makes India’s installed and currently installed renewable The total investment portfolio of energy projects reached 221 GW. This is much higher than the Modi government's goal of achieving 175 GW of green energy installed capacity by 2020. Earlier in 2015, the government promised to achieve 10 million kilowatts of green energy installed capacity through solar, wind, biomass, and small hydropower to achieve a healthy planet and a lower carbon-intensive economy.

At the same time, Prime Minister Narendra Modi recently invited foreign investors to say that there will be huge renewable energy deployment plans in the next ten years, which may generate about US$20 billion in business prospects per year. Prime Minister Modi invited global investors, developers and companies to join India's renewable energy journey. He added that India has a very loose foreign investment policy on renewable energy. Foreign investors can invest by themselves or cooperate with Indian companies. Prime Minister Modi also announced that after PLI's success in the electronics manufacturing industry, the government decided to give similar incentives to high-efficiency solar modules.Editor/Huang Lijun