Nearly $12.67 billion received as FDI in renewable energy sector: Minister

New Delhi, Aug 19 (IANS) Nearly $12,674 million ($12.67 billion) has been received as foreign direct investment (FDI) in the renewable energy sector (as on March 31, 2025), the Parliament was informed on Tuesday.

Solar energy has emerged as the leading sector attracting the majority of such investment, while the western region of the country has received the highest share of FDI in this period, Minister of State of New and Renewable Energy and Power, Shripad Yesso Naik, said in a written reply in the Rajya Sabha.

Recognising the need to scale up investments in renewable energy to meet the national target of 500 GW of non-fossil fuel capacity by 2030, the government has undertaken various initiatives to attract both domestic and international capital which include permitting 100 per cent FDI under the automatic route and introduction of Climate Finance Taxonomy in the Union Budget 2024-25 for enhancing the availability of capital for climate adaptation and mitigation.

Earlier this month, India achieved a landmark milestone of 100 GW solar PV module manufacturing capacity, reflecting the country’s rapid progress in building a robust and self-reliant solar manufacturing ecosystem, aligned with the national vision of Atmanirbhar Bharat and the global imperative for clean energy transition.

The government’s commitment is to make India self-reliant in solar PV manufacturing and establish the country as a major player in the global value chain.

India has also surpassed Japan to become the third-largest producer of solar energy globally, which is a significant development in the nation's clean energy development. India produced 1,08,494 gigawatt-hours (GWh) of solar power, more than Japan, which produced 96,459 GWh, as per data from the International Renewable Energy Agency (IRENA).

The installed wind energy capacity in India had reached 51.67 GW as of June 30 this year. The country's wind energy capacity has been steadily growing over the last three fiscal years, from 2,275.55 MW added in 2023–2024 to 3,253.39 MW added in 2024–2025 and 1,637.02 MW of new capacity installed in the April–June quarter of 2025–2026.

--IANS

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