Govt Enforces ‘Melt and Pour’ Rule for All Steel in Public Projects Nippon Steel expected to finalize U.S. Steel acquisition at $55 per share NMDC Limited reports a 38% drop in Q4 FY24 consolidated net profit RINL to Raise $23 Million Through Land Sales Amid Crisis
The CEEW Centre for Energy Finance (CEEW-CEF) Market Handbook states that of the 26 GW of new power production capacity built in India during FY 2023–2024, renewable energy sources accounted for 71% of the total. The country's total installed energy capacity is presently 442 GW, with renewable energy accounting for 144 GW (33%) and hydroelectric power accounting for 47 GW (11%). The proportion of lignite and coal dropped below 50% for the first time.
According to the research, rooftop and grid-scale solar power accounted for 15 GW (81% of the renewable capacity increases) in FY24, leading the way in renewable capacity additions. Wind capacity increased nearly twice to 3.3 GW from 2.3 GW in FY23. Furthermore, nuclear capacity rose 1.4 GW, marking the first gain since FY17.
Peak power demand (met) in India reached 240 GW in FY24 due to a growing economy, lower-than-expected rainfall, and extreme weather conditions. In terms of electricity demand (met), there was an increase of about 8 per cent compared to FY23.
On the green financing front, foreign direct investment (FDI) towards non-conventional energy exceeded $2 billion for the second consecutive year. The Reserve Bank of India also conducted four sovereign green bond auctions totalling ₹20,000 crores, compared to ₹16,000 crores in FY23. Middle East. It is also gaining traction in Canada, Europe, Australia, and New Zealand.
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