Solar attracts largest share; govt eyes 500 GW non-fossil capacity by 2030

India has received nearly USD 12.67 billion in foreign direct investment (FDI) in the renewable energy sector as of 31 March 2025, Minister of State for New and Renewable Energy and Power, Shripad Yesso Naik, informed Parliament on Tuesday.

Solar energy has emerged as the leading segment drawing maximum capital, while western India accounted for the largest regional inflows during the period.

To meet the target of 500 GW non-fossil fuel capacity by 2030, the government has opened 100 per cent FDI under the automatic route and introduced a Climate Finance Taxonomy in the Union Budget 2024-25 to facilitate global capital for adaptation and mitigation projects.

Earlier this month, India achieved a solar manufacturing milestone with 100 GW module capacity, advancing the Atmanirbhar Bharat vision and strengthening its position in the global clean energy value chain.

India also overtook Japan to become the world’s third-largest solar power producer, generating 1,08,494 gigawatt-hours (GWh) in 2024, compared with Japan’s 96,459 GWh, according to the International Renewable Energy Agency (IRENA). The country’s installed wind energy capacity stood at 51.67 GW as of 30 June 2025.