Newsletter
India is racing toward its 500 GW non-fossil energy target by 2030, and the latest budget makes one thing clear: the country is doubling down on clean power. With 218 GW already installed, the next five years will decide how quickly India can close the gap.
The government just pumped ₹26,549 crore into renewables, marking a 53% jump from last year and a 9x increase since FY21. Nearly all of it—₹24,224 crore—is going straight to solar, but the ₹600 crore set aside for green hydrogen is turning heads. It’s a small slice of the pie but signals that hydrogen is moving from theory to reality.
India’s biggest solar players are scaling up. Adani Green, NTPC Green, and Azure Power are stacking projects, with NTPC Green alone developing 11 GW. Meanwhile, Adani Green continues to push forward despite regulatory scrutiny, proving that the appetite for solar expansion isn’t fading anytime soon.
But hydrogen is where things get interesting. Reliance, NTPC, and Adani Green are making moves to transition from grey to green hydrogen, while BPCL, IOCL, ONGC, GAIL, and JSW Energy are positioning themselves for the long game. BPCL is aiming for 1,000 MW of hydrogen capacity by 2027, and with policy support, others are likely to follow.
The real challenge is India still needs 282 GW to hit its 2030 goal. Power Purchase Agreements and round-the-clock availability remain pain points, but the scale of investment shows that India isn’t backing down.
If the execution matches the ambition, this could be one of the biggest clean energy transitions the world has seen.
