Green Energy

Overview of the Indian Energy Sector

India stands as a significant player in the global energy landscape, ranking as the third-largest producer and consumer of electricity. The nation's energy sector is characterized by a diverse mix of traditional and renewable sources, with a notable emphasis on expanding its renewable energy capacity.

India has set an ambitious goal to achieve 500 GW of renewable energy capacity from non-fossil sources by 2030, This is the world's largest expansion plan is in renewable energy, reflecting its commitment to a sustainable energy future.  With a population of approximately 1.4 billion and a rapidly expanding economy, India's energy demand is on a steep upward trajectory. The country is projected to account for 25% of the global increase in energy consumption by 2040, underscoring the critical role it plays in the international energy market. 

By December 2024, the cumulative installed renewable energy capacity, including large hydro projects, stood at 162.48 GW. This total comprises 48.16 GW of wind power, 97.86 GW of solar power, 5.10 GW of small hydro power, and 9.81 GW from biomass cogeneration. 

India's energy sector is marked by significant achievements in renewable energy capacity and a steadfast commitment to future expansion. The nation's strategic goals and rapid economic growth position it as a pivotal contributor to global energy dynamics in the coming decades.

Increasingly sustainable energy use patterns

India is undergoing a significant transformation in its energy consumption patterns, emphasizing sustainability through rapid advancements in renewable energy, electrification, the proliferation of electric vehicles, deregulation of oil prices, and the expansion of gas pipelines.

Renewable Energy Growth

• Wind Energy: India's wind power capacity has experienced substantial growth, reaching approximately 47.96 GW by November 2024, up from 44.56 GW in 2023.
• Solar Power: Solar capacity has seen a remarkable increase, with installed capacity rising from 72.31 GW in 2023 to 94.17 GW in 2024, reflecting a growth of 30.2%.
• Urban and Industrial Organic Waste: The potential energy generation from urban and industrial organic waste is estimated at approximately 5,690 MW.

Future Projections and Targets

• Electricity Demand: India's electricity demand is projected to exceed 950 GW by 2030, driven by economic growth and urbanization.
• Renewable Capacity Growth: The installed renewable power generation capacity has been expanding at a compound annual growth rate (CAGR) of 17.33% over the past five years.
• Non-Fossil Energy Capacity: India aims to achieve 500 GW of non-fossil fuel energy capacity by 2030, striving to meet 50% of its energy requirements from renewable sources.
• Carbon Emission Reduction: The country is committed to reducing projected carbon emissions by one billion tonnes by 2030.

Strategic Initiatives

• National Green Hydrogen Mission: Launched in 2021, this mission seeks to position India as a global hub for the production and export of green hydrogen and its derivatives, contributing to significant decarbonization of the economy.
• Net-Zero Commitment: At the 2021 COP26 Summit, India pledged to achieve net-zero carbon emissions by 2070, underscoring its dedication to sustainable development.

Areas of opportunities for Danish companies

• On & Off-Shore Wind
• Wind – Solar Hybrid
• Floating PV Projects 
• Green Hydrogen
• Power to X
• Bio-energy, Biofuels, BioCNG, Waste to Energy
• Energy Efficiency
• Smart Grid Integration
• Scope for Component Manufacturing and support services 
• Capacity Building and Training

Support activities and competencies of The Trade Council of Denmark