Investment Information and Credit Rating Agency (ICRA)

♦ According to the Investment Information and Credit Rating Agency (ICRA), India's renewable energy capacity is projected to reach 250 GW by March 2026.

♦ This growth will be supported by a robust project pipeline of over 80 GW, following a significant increase in tendering activity during FY24.

♦ ICRA forecasts the installed renewable energy capacity, including large hydroelectric projects, to rise from 201 GW in September 2024 to 250 GW by March 2026. 

♦ ICRA also anticipates that India will require 50 GW of energy storage capacity by 2030, which will be met through a combination of battery energy storage systems (BESS) and pumped storage hydro projects (PSP).

♦ This aligns with India's ambitious target of achieving 500 GW renewable energy capacity by 2030.

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