India’s RE Pipeline Is Strong—Execution Will Decide

India’s renewables story entered a new phase in June 2025, when non-fossil sources crossed 50% of installed power capacity. Core RE (ex-large hydro) touched ~184 GW—up 28% since March 2024, driven chiefly by 34 GW of new solar and 5.7 GW of wind.

The pipeline is hefty: 560+ under-construction projects spanning solar, wind and hybrids, with nearly 90 GW clustered in Gujarat and Rajasthan. As interstate transmission (ISTS) waivers taper, growth is expected to deepen within states, and hybrids with storage will form a larger share of additions. Commissioning is front-loaded: ~37 GW slated for 2025 and ~50 GW for 2026; 2027–31 could add ~55 GW more.

Legacy bottlenecks threaten timelines. Over 70 projects (~12 GW) that should have finished before 2025 are delayed; ~30 more risk missing 2025 deadlines. Frictions span land acquisition, transmission readiness and evacuation, PSA/PPA signing, policy uncertainty (e.g., ALMM changes, import duties/open access), and grid flexibility gaps. Financing needs are steep too, annual flows may have to rise ~20% to reach ~$68 billion by 2032 (≈$300 billion cumulative). Meanwhile, PPAs for >40 GW remain unsigned and ~38.3 GW of projects were canceled during 2020–24, weighing on confidence.

Even so, the National Electricity Plan targets ~507 GW of RE (ex-hydro) by 2031–32—~364 GW solar and ~121 GW wind, keeping India on a credible, if demanding, path. Execution discipline, storage build-out, and tighter center-state coordination will decide whether the strong pipeline becomes delivered megawatts.