Green Energy

Overview of the Indian Energy Sector

India is the third largest producer and consumer of electricity and one of the countries with the largest production of energy from renewable sources.

India is one of the world’s fastest-growing economies, with rising urbanization and an expanding middle class. The country will account for 25% of the rise in global energy use by 2040 and will have record growth in energy demand over the next several decades.

India has the 3rd largest installed capacity of renewable energy in the world, 4th largest installed capacity of wind in the world, 2nd largest Wind Manufacturing Hub, and 5th largest installed capacity of solar power in the world.

India has set an ambitious target of installing 450 GW of renewable energy projects by 2030. This is the world's largest expansion plan is in renewable energy. By the end of 2021, India has crossed the 150 GW milestone of installed renewable energy capacity, including hydro.

Increasingly sustainable energy use patterns

Fast progress in renewable energy sector, electrification, electric vehicle boom, oil price deregulation and extension of gas pipeline are bringing rapid change in energy use patterns in a sustainable way. The trend is already visible:

• Wind energy capacity in India has increased by 2.2 times in the last five years 
• Solar power capacity has increased by more than 5 times in the last five years from 6.7 GW to 47.7 GW.
• The total estimated energy generation potential from urban and industrial organic waste is approximately 5690 MW. 
• Indian electricity demand is expected to cross 950GW by 2030
• Installed renewable power generation capacity has gained pace over the past five years, posting a CAGR of 17.33%.
• India aims to increase its non-fossil energy capacity to 500 GW by 2030.
• India aims to meet 50 percent of its energy requirements from renewable energy by 2030 thereby reducing the total projected carbon emissions by One Billion Tonnes.
• Launching the National Hydrogen Mission on 2021, to develop India into a global hub for manufacturing of hydrogen and fuel cells technologies across the value chain.
• At the 2021, COP 26 Summit, India has pledged to become Net-Zero by 2070.

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