India's Renewable Energy Goals: Doubling Capacity for 2030 Target

India Needs to Double Renewable Capacity Additions to Meet 2030 Targets

To achieve its ambitious 2030 clean-energy targets, India must double its annual solar and wind capacity additions over the next five years, according to a report by Global Energy Monitor (GEM). Despite record additions in 2024, the current pace is insufficient to meet the country's goals.

Renewable Energy Growth in 2024

India added nearly 28 gigawatts (GW) of solar and wind capacity in 2024. Solar power additions accounted for 70% of this total, according to the renewable energy ministry.

Ambitious Targets and Current Status

India has set a target to achieve at least 500 GW of non-fossil power capacity by 2030, a significant increase from the current 165 GW. However, the country is still falling short of its previously set target to add 175 GW by 2022.

Challenges and the Rise of Fossil Fuels

Despite a robust pipeline of renewable projects, fossil fuels accounted for more than two-thirds of the total increase in power generation in 2024. GEM emphasized the need for a substantial acceleration in renewable energy deployment to reverse the rise in fossil fuel generation.

"A significant uptick in renewables deployment is required for renewable sources to expand upon their current one-fifth share of total generation and to eat into coal's dominance," GEM stated. It also noted that renewable sources tend to generate power less readily than fossil sources.

Coal Capacity Expansion Plans

To ensure a reliable base load of power to meet growing domestic electricity demand, India plans to increase its coal-fired capacity by 80 GW by 2031-32, raising the total from the current 220 GW.

Key Challenges to Renewable Expansion

Expanding renewable energy capacity will require addressing several challenges:

• Inadequate electricity transmission infrastructure
• Limited energy storage capacity
• Higher financing costs

Disclaimer: The views and investment tips expressed in this article are for informational purposes only and do not represent financial advice. The views expressed are those of the sources cited and not necessarily those of this website or its management. Investing in equities or other financial instruments carries the risk of financial loss. Readers must exercise due caution and conduct their own research before making any investment decisions. We are not liable for any losses incurred as a result of decisions made based on this article. Please consult a qualified financial advisor before making any investment.

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India's First Semiconductor Chip: Production Expected by 2025

Made-in-India Semiconductor Chip to Debut by 2025: Union Minister Ashwini Vaishnaw

Union IT and Electronics Minister Ashwini Vaishnaw announced that the first domestically manufactured semiconductor chip is expected to be ready for production by 2025. Vaishnaw highlighted India's significant progress in semiconductor manufacturing over the past three years, driven by the India Semiconductor Mission (ISM), launched in December 2021.

India's Semiconductor Ambitions Take Shape

The ISM provides incentives to encourage semiconductor manufacturers to establish facilities and operational plans within India. This initiative offers financial support for various units, including:

• Semiconductor fabrication units
• Display fabrication units
• Compound semiconductor units
• Semiconductor assembly, testing, marking, and packaging (ATMP) units
• Design-linked incentives

Key Partnerships and Investments

Several significant developments are underway:

• Micron: Announced plans in June 2023 to build a semiconductor assembly and testing plant in Gujarat.
• Tata Electronics and PSMC: Partnered in September 2024 to establish India's first semiconductor fabrication unit. This facility aims to produce up to 50,000 wafers per month, serving industries such as automotive, computing and data storage, and wireless communication.

Strategic Importance and Government Support

Major Indian conglomerates like Larsen & Toubro (L&T) and the Adani Group are also entering the semiconductor space, highlighting the industry's growing strategic importance to India's economic and national security. The Indian government is collaborating with the US under the US-India Initiative on Critical and Emerging Technology (iCET), focusing on areas such as AI, quantum computing, semiconductors, and wireless telecommunications.

The government is also actively seeking to support Indian innovators in deep AI, semiconductors, and electronics, fostering a robust domestic ecosystem.

Disclaimer: The views and investment tips expressed in this article are for informational purposes only and do not represent financial advice. The views expressed are those of the sources cited and not necessarily those of this website or its management. Investing in equities or other financial instruments carries the risk of financial loss. Readers must exercise due caution and conduct their own research before making any investment decisions. We are not liable for any losses incurred as a result of decisions made based on this article. Please consult a qualified financial advisor before making any investment.

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