Business EconomyPosted at: May 13 2026 3:35PM


India's renewable energy generation rose 20pc in FY26 amid decline in coal and lignite-based generation: Report

By Sourav Shekhar
New Delhi, May 13 (UNI): India's renewable energy (RE) generation rose 20 per cent in FY26 while coal and lignite-based generation declined 4.3 pc year-over-year (Y-o-Y), said a report released by Council on Energy, Environment and Water's Green Finance Centre (CEEW-GFC) here on Wednesday.
The report noted that India added a record 57.5GW of net power generation capacity in FY26, which is 33.2GW up from FY25. Renewable energy, including large hydro, accounted of 54.6 pc of net capacity addition.
On the other hand, solar-driven solutions led renewable energy additions with 44.6GW, followed by wind at 6.1 GW. It has contributed to taking India's total installed capacity up to 533 GW with a contribution of 72pc from renewable energy.
"As of March, 151 GW of RE capacity (including large hydro but excluding rooftop solar) is under construction, with 90 GW, 29 GW, 19 GW, and 13 GW coming from solar, wind, hybrid, and large hydro, respectively," the report said.
The report noted that on the tenders front, Renewable Energy Implementing Agencies (REIAs) issued 10.4GW of renewable energy tenders.
Auctions by REIAs and state agencies accounted for 14.25 GW, with innovative formats accounting for 76 per cent of auctioned capacity, according to the report.
Gagan Sidhu, Director, CEEW-GFC, said, "India's energy transition continues to gather pace, with RE accounting for 95 per cent of net capacity addition in FY26 and RE generation seeing a 20 per cent increase over the previous year."
"CEEW-GFC's Market Handbook shows that this year, we saw a more competitive market, with a 35 per cent market concentration. However, at the same time, the sector is also at an important crossroads."
Sidhu noted that foreign direct investment (FDI) saw a 26 per cent drop in the first three quarters of FY26 compared to the same period in FY25.
In light of the multiple global disruptions playing out, it is all the more critical that we keep on track to achieve our RE targets.
According to the report, FY26 is an inflection point for energy storage as 37 storage tenders have been announced. It includes 31 for Battery Energy Storage Systems (BESS), underscoring storage's critical role in India's clean energy transition.
The report highlights a marked improvement in the financial health of India's power distribution companies (DISCOMs).
"Legacy dues owed to generating companies fell sharply to INR 4,109 crore as of February 2026, down from Rs 49,451 crore in January 2024, highlighting the success of late payment surcharge rules. 65 million smart consumer meters have been installed across the country."
Sovereign Green Bonds worth Rs 20,000 crore were issued through four equal 30-year tranches at a coupon rate of 6.98 per cent.
Cumulative Foreign Direct Investment (FDI) in RE for the first three quarters of FY26 stood at USD 2.5 billion, with solar energy attracting 79 per cent of these flows, the report added. UNI SAS AKU
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