Annual renewable energy (RE) installations in FY24 are to be around 20 GW, led by the solar sub-segment, CareEdge Ratings said on Thursday. This is based on the healthy pipeline of over 55 GW assets under development. The subsequent year is expected to see installations of 25 plus GW, leading to a cumulative increase of 45 GW over the next two fiscal, the rating agency said in a sectoral note.
The solar sub-segment is expected to lead the way in terms of installations, followed by wind and hybrid capacity. The commercial and industrial segment is also expected to contribute significantly to future capacity additions.
