By: ICN Bureau
Last updated : April 03, 2025 9:50 am
India’s solar power sector led the renewable energy growth, with capacity additions soaring from 15 GW in FY24 to nearly 21 GW in FY25, a remarkable 38% increase
India has added an unprecedented 25 GW of renewable energy capacity in FY 2024-25, marking an increase of nearly 35% over the previous year’s addition of 18.57 GW.
The Ministry of New and Renewable Energy (MNRE) has achieved a historic milestone in the renewable energy sector for FY 2024-25.
India’s solar power sector led the renewable energy growth, with capacity additions soaring from 15 GW in FY24 to nearly 21 GW in FY25, a remarkable 38% increase. The country also achieved the significant milestone of surpassing 100 GW of installed solar capacity this year.
In a strong push towards Atma Nirbharta, India's solar module manufacturing capacity nearly doubled from 38 GW in March 2024 to 74 GW in March 2025 while solar PV cell manufacturing capacity tripled from 9 GW to 25 GW. Additionally, the country's first ingot-wafer manufacturing facility (2 GW) commenced production in FY25. Under the Production Linked Incentive (PLI) Scheme for High-Efficiency Solar PV Modules, investments worth Rs. 41,000 crore have been made, generating direct employment for approximately 11,650 people.
The PM Surya Ghar Muft Bijli Yojana witnessed impressive progress, benefiting over 11.01 lakh households by March 31, 2025. Under the scheme, Rs. 5,437.20 crore has been disbursed as Central Financial Assistance to 6.98 lakh beneficiaries, significantly promoting the adoption of rooftop solar.
India’s Green Hydrogen sector also saw significant developments. Incentives worth Rs. 2,220 crore were awarded for 1,500 MW per annum of electrolyser manufacturing, while an additional Rs. 2,239 crore was allocated for 4,50,000 tons-per-annum (TPA) of Green Hydrogen production. Under the National Green Hydrogen Mission, seven pilot projects were funded with Rs. 454 crore for decarbonizing the steel sector. Additionally, five pilot projects in the transport sector, with Rs. 208 crore in funding, will introduce 37 hydrogen-fueled vehicles and nine hydrogen refueling stations.
The PM KUSUM Scheme witnessed record progress. In Component B, 4.4 lakh pumps were installed in FY25, a 4.2-fold increase over the previous year. In Component C, 2.6 lakh pumps were solarized, 25 times more than in FY24. The total number of solar pumps installed/solarized under the scheme has now exceeded 10 lakh. Financial expenditure for PM-KUSUM surged to Rs. 2,680 crore, a 268% increase from the previous year.
The Indian Renewable Energy Development Agency (IREDA) continues to play a crucial role in financing clean energy projects. In FY25, IREDA recorded a 27% increase in loan sanctions, reaching Rs. 47,453 crore, while loan disbursements rose by 20% to Rs. 30,168 crore.
Union Minister of New and Renewable Energy, Prahlad Joshi said, "India may have already become or will soon become the third-largest renewable energy capacity holder in the world. This milestone is a testament to Prime Minister Modi’s vision for a sustainable and self-reliant energy future."