By Akshay Hiranandani, CEO, Serentica Renewables
India stands at the crossroads in its path to energy sovereignty with fossil fuels continuing to contribute 68 per cent to electricity production. In 2024 alone, the electricity sector released over 1.4 billion tonnes of CO2 and the nation spent almost $60 billion importing petroleum. Simultaneously, India has become a clean energy global leader with more than 135 GW of solar and 50 GW of wind capacity having been installed by March 2025. Wind installations contributed 1.8 GW during Q1 FY 2025, solidifying the country’s position as the world’s fourth-largest market in the space. To remain a global energy leader, it needs to ramp up the capacity to 100 GW of wind and 500 GW of non-fossil fuel by 2030.
The key is scaling up renewables and creating a strong, resilient, future-proof power system that incorporates wind, solar, storage, and smart grids to meet industrial, commercial, and domestic demand — 24/7. It is not just about increasing the capacity but also about providing clean, dependable, affordable power that powers industries, homes, and growth.
Clean energy is now cheaper and smarter
The energy economics have shifted. The cost of wind power is now Rs 3.17 per kWh, lower than coal-powered electricity, which is at Rs 3.50 per kWh. The cost of solar power is lower in many states. With hybrid technologies that integrate wind, solar and storage, renewable energy (RE) now offers firm dispatchable renewable energy (FDRE) that matches fossil fuels on both cost and reliability parameters.
India’s commercial and industrial (C&I) sector, which consumed USD60 billion of fossil fuels in FY 2024, is proactively switching to renewables in order to reduce emissions and manage fuel price volatility. With C&I electricity demand expected to grow 40 per cent by 2040, the transition to green power will be imperative. Enhancing the share of FDRE can reduce 95 million tonnes of CO2 a year, help in complying with international decarbonisation requirements, such as the EU Carbon Border Adjustment Mechanism, and make Indian exports competitive worldwide.
Addressing the grid and storage gaps
As capacity generation increases, bottlenecks continue to persist. Grid congestion, land acquisition delays, and slow approvals continue to hold back RE deployment. In light of this, India’s high-renewable energy states need transmission upgrade urgently, catalysed by schemes such as the Green Energy Corridor.
The new frontier is energy storage. India is planning to install 50 GW of storage capacity by 2030 using battery energy storage systems (BESS), pumped hydro, and innovative green hydrogen solutions. These technologies are key to spanning intermittency and ensuring 24/7 green power for industry.
Digitalisation is also critical as AI-driven forecasting applications that can reduce land acquisition timelines by 30 per cent and intelligent grid systems that provide real-time load balancing and demand response.
Wind, solar, offshore and repowering
India holds 695 GW of wind potential at 120m hub height, including 174 GW offshore in Gujarat and Tamil Nadu. A planned 100 MW offshore pilot by 2027 can unlock a new frontier. Repowering old wind sites alone could yield 25 GW of new capacity. New low-wind speed turbine technology is making previously unviable geographies viable, while floating solar and canal-top installations are optimising space use.
A thriving domestic ecosystem and global backing
The country’s renewable energy push is backed by a robust domestic manufacturing base, now producing 25 GW of solar modules and 20 GW of wind turbines annually. This not only reduces import dependence but also creates jobs. The wind sector alone added 90,000 jobs in FY 2025, with over 360,000 clean energy jobs expected by 2030.
India is also attracting serious global capital. In June 2024, the World Bank approved USD1.5 billion to support its clean energy transition, underlining international confidence in the roadmap.
The road ahead: Integration, not isolation
The future isn’t wind versus solar or fossil versus renewable – it is integration. Powering a USD5 trillion economy requires a systemic approach that combines generation, storage, transmission, and digital intelligence.
India has the scale, the market, and the will. What it needs now is speed: fast-tracked tenders, plug-and-play industrial green zones, forward-looking policies, and agile execution. We can either retrofit yesterday’s systems or build tomorrow’s power architecture today, rooted in clean, firm and sustainable energy.
The country’s energy revolution isn’t on the horizon. It is already here. Let’s lead it.
