Page 160 - Hitachi IR 2025

MANAGEMENT DISCUSSION & ANALYSIS
Growth in transformation capacity and inter-regional power transmission capacity
99,050
1,02,050
1,03,550
1,12,250
1,12,250
11,80,352 1,18,740
12,51,080 1,18,740
13,50,953
8,99,663 9,67,893 10,25,468 11,04,450
FY19
FY20
FY21
FY22
Inter-regional power transmission (MW) Source: https://powermin.gov.in/en/content/overview-0
Opportunities and threats
India’s renewable energy sector – an overview
The renewable energy sector in India is growing
rapidly and presents an opportunity for strong
financial returns. India has a golden opportunity to
shape its energy mix. Social and economic growth
are at the top of the government’s agenda, and
new energy sources to serve this demand are
increasingly coming from renewable energy, with a
number of factors having contributed to this.
Renewable energy contributes a significant portion
of the overall power mix, as India's total electricity
generation capacity touches 475 GW. As on
March 31, 2025, the nation’s total renewable
energy installed capacity stood at 220.10 GW, a
rise of 15.50% from 190.57 GW in the previous
fiscal year. Renewable energy now constitutes
about 46.30% of India's total installed capacity,
FY23
FY24
FY25
Transformation capacity (MVA)
highlighting a growing dependence on cleaner, non-
fossil fuel-based energy sources.
Source: Economic Survey, FY 2024‑25
About 220.10 GW of renewable energy capacity was
installed till March 31, 2025, crossing a key milestone
of 200 GW. This includes 105.65 GW of solar power,
50.04 GW of wind power, 11.58 GW of bioenergy, and
5.10 GW of small hydro power, demonstrating India’s
strong commitment to clean energy.
Source: https://mnre.gov.in/en/physical-progress/
The government policy has been supportive and a
wider set of actions – incentives, infrastructure and
investment promotions were taken up. Technology
development, larger-scale projects and the learning
effect have allowed the use of efficient designs, making
renewable energy attractive to power utilities that are
contracting new long-term capacity.
Growing reliance on renewables (% of installed capacity)
Particulars FY
2020-21
FY
2021-22
FY
2022-23
FY
2023-24
FY
2024-25
Fossil 61.40 59.10 57.00 55.00 51.96
Non-Fossil 38.60 40.90 43.00 45.00 48.04
Source: https://cea.nic.in/executive-summary-report/?lang=en
Installed capacity of renewable energy
Total Capacity: 220.10 GW in FY 2024-25
Solar
105.65 GW
Large hydro
47.73 GW
The renewable
energy sector in India
is growing rapidly
and presents an
opportunity for strong
financial returns.
India has a golden
opportunity to shape
its energy mix.
Wind
50.04 GW
Bio-energy
11.58 GW
Source: Executive Summary Report, May 2025, Central Electricity Authority
158 Hitachi Energy India Limited