India Poised to Exceed 2030 Clean Energy Targets: IEA

India has achieved the third-largest growth in power generation capacity globally over the past five years and is poised to exceed its 2030 clean energy targets ahead of schedule, according to the International Energy Agency's World Energy Investment report 2025 released on Thursday.

- Jayashree Nandi

NEW DELHI:

The country's non-fossil power generation capacity reached 44% in 2024, rapidly approaching its ambitious target of 50% by 2030. Only China and the United States have seen larger capacity additions during this period.

"India looks set to reach its 2030 target of 50% non-fossil generation capacity ahead of schedule," the IEA report stated, highlighting the nation's accelerated transition towards sustainable energy.

In 2024, 83% of India's power sector investment flowed to clean energy, with the country emerging as the world's largest recipient of development finance funding, securing around $2.4 billion in project-type interventions for clean energy generation, the report added.

Solar photovoltaic technology has spearheaded this transformation, constituting more than half of total non-fossil investment over the review period. The surge in renewables investment comes alongside growth across all power generation sources, driven by sharply rising electricity demand in what is the world's fastest-growing major economy.