India secures USD 386 bn to expand renewable energy capacity: India has received a total of USD 386 bn from unnamed banks and financial institutions to fund the expansion of the nation’s renewable energy capacity, the Economic Times reports, citing comments made by India’s Renewable Energy Minister Pralhad Joshi at an industry event. "We have also received overwhelming commitment from state governments to support our goal of 500 GW of clean energy capacity by 2030," he said.

India is ramping up production: The nation expanded its renewable energy capacity by over 18 GW in 2024, surpassing the 15.3 GW added the previous year, bringing the country’s total capacity to 153 GW, Reuters reports. The government also received commitments for an additional 570 GW in power generation and 340 GW in solar modules, alongside 240 GW in solar cells. Indian conglomerate Reliance Industries pledged 100 GW of new renewable capacity, while Adani Green Energy committed 38.8 GW. Analysts have projected renewables capacity to climb 25 GW in the 2024 to 2025 fiscal year.

ON A RELATED NOTE- Germany has eyes on Indian renewables: Germany's Development Minister Svenja Schulze is in discussions to expand renewable energy cooperation with the Indian government while on a delegation visit to Gujarat where the two nations will launch the India-Germany Platform for Investments in Renewable Energy Worldwide, according to a statement. The platform will boost cooperation between German and Indian companies while generating investment for the global energy transition.

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