Page 69 - Policy Economic Report -August 2026

POLICY AND ECONOMIC
OIL & GAS MARKET

Backed through the key policy enablers provided by the Government for this transformation, this
monumental achievement highlights India’s rapid progress towards building an Aatmanirbhar energy
ecosystem and securing the target of 500 GW non-fossil capacity by 2030.

The growth in clean energy generation has been anchored by stellar contributions across sectors.
Solar energy remains the key growth engine with around 165 GW at present from just 2.8 GW in
2014. Concurrently, the wind energy sector has also seen strong momentum reaching to over 58 GW
from 21 GW in 2014.

During 2025-26, a record capacity of 55.29 GW non-fossil fuel-based electricity capacity was installed
in the country with key contributions from 44.6 GW solar power and 6 GW wind power.

The rapid progress in renewable energy capacity is also reflected in renewable energy generation in
the country which has increased from 190.96 billion units in 2014-15 to 477.79 BU in 2025-26.

To support this rapid expansion and ensure supply chain independence, India has transformed its
domestic manufacturing capabilities. Driven by the Production Linked Incentive (PLI) scheme focusing
on the nation's solar installations with high-efficiency, indigenously produced modules, the enlisted
capacity under the Approved List of Models and Manufacturers (ALMM) for Solar PV Modules has
crossed the historic 200 GW milestone, rising from just 2.3 GW in 2014.

Clean energy transition is no longer just a climate commitment—it is central to shaping India's
industrial competitiveness, energy independence, and economic resilience.
The Ministry of New and Renewable Energy is also driving deep industrial decarbonization, positioning
India to become a global hub for the production, usage, and export of Green Hydrogen and its
derivatives, through the implementation of the National Green Hydrogen Mission.

9. National Green Hydrogen Mission Advances Green Hydrogen Adoption in Petroleum and Refining
Sector

The Government of India is implementing the National Green Hydrogen Mission (NGHM) with the
objective of making India a global hub for production, usage and export of green hydrogen and its
derivatives.

Under the SIGHT (Strategic Interventions for Green Hydrogen Transition) Mode - 2B scheme of the
NGHM, Green Hydrogen production capacity of 30 Kilo Tonnes Per Annum (KTPA) has been awarded
for refineries as per following details:

Refinery Location Green Hydrogen Production Capacity
Panipat 10 KTPA
Indian Oil Corporation
Limited

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