Market trends

Can India achieve 30 GW offshore wind capacity target by 2030? Offshore wind technology utilizes turbines installed at sea and offers a reliable and clean renewable energy source with higher efficiency due to consistent, unobstructed winds. Offshore wind technology offers a significantly higher (~10-15%) capacity utilization factor (CUF) vis-à-vis onshore wind. India’s offshore wind power capacity target for 2030 underscores the growing importance of this technology in advancing sustainable energy solutions. Although the global offshore wind market size is close…

SECI concludes the Rs 4440 crore Electrolyser Manufacturing Component of its SIGHT program Can meet 52% of India’s 5 MMTPA green H2 production target in 2030 The National Green Hydrogen Mission (NGHM) was launched by the Indian government in January 2023 to position India as a global hub green hydrogen production, utilisation and export. A vital aspect of this initiative is the SECI electrolyzer manufacturing program, which targets a green hydrogen production capacity of 5 million metric tonnes a year…

India installed 15 GW solar and 3.3 GW wind capacity in FY2024 In Financial Year 2024 (FY) i.e., from April 2023 till March 2024, approximately 15,033 MW solar capacity and 3,253 MW of wind capacity was added in India. Solar and wind installations increased by 17.6% and 42.9% respectively as compared to the same period the previous year. In terms of cumulative installations, according to the data released by the Ministry of New and Renewable Energy (MNRE) till March 2024,…

Uttar Pradesh Green Hydrogen Policy 2024 On 4th January 2023, The National Green Hydrogen Mission (NGHM) was launched with an initial outlay of Rs 19,744 crore from FY2023-24 to FY2029-30. This initiative supports the green hydrogen policy, aiming to make India a global hub for the production, usage, and export of green hydrogen and its derivatives. The mission targets developing a green hydrogen production capacity of at least 5 million metric tonnes per annum by 2030, alongside adding approximately 125…