Page 71 - Policy Economic Report -August 2026

August 2026 POLICY AND ECONOMIC
OIL & GAS MARKET

from 2.8 GW to 165 GW, representing nearly 58-fold growth, while wind capacity rose from around
21 GW to 58 GW, registering a 176 per cent increase. The Union Minister said that India added more
than 17 GW of renewable-energy capacity during the first four months of FY 2026–27, including 14.33
GW of solar capacity and over 2 GW of wind capacity.

Shri Joshi said that India, as the fastest-growing major economy in the world, is attracting significant
domestic and foreign investment. With rapid infrastructure development taking place across the
country, he said that the green-energy sector presents significant opportunities for investment and
collaboration. Shri Joshi said that achieving the target of 500 GW of non-fossil-fuel capacity by 2030
will require more than ?30 lakh crore in investment over the next five years. A significant share of this
capital will need to be mobilised through Indian financial institutions, capital markets, insurance
funds, infrastructure investors and private capital, he said, adding that this makes Mumbai an
important centre for India’s clean-energy investment ecosystem.

Urging Maharashtra to leverage BRESE 2026, Shri Joshi called upon the State to showcase its
renewable-energy projects and successful models, particularly its experience under PM-KUSUM, and
explore international partnerships to replicate successful solarisation models in agriculture.

Shri Atul Moreshwar Save, Government of Maharashtra Minister for Renewable Energy stated that
Maharashtra will be a partner state in the BRESE 2026. He stated that the state also ranks among the
top states nationally for active vendor networks under PM Surya Ghar: Muft Bijli Yojana, with a robust
rooftop solar delivery infrastructure already in place. Maharashtra has fulfilled the target of installing
the highest number of solar pumps in the state. Maharashtra has a target of achieving 65 GW of
renewable energy capacity by 2030, backed by one of the country's largest industrial energy demand
bases and a rapidly expanding renewable energy delivery ecosystem. Shri Save said that the
Government of Maharashtra is positive about achieving this target.

The Secretary, Ministry of New and Renewable Energy (MNRE), Shri Santosh Kumar Sarangi stated
that BRESE 2026 will be a one-stop platform for deliberations of the challenges and opportunities of
the RE Sector. Joint Secretary, MNRE, Shri JVN Subramanyam, presented the opportunities that the
BRESE 2026 will provide to the RE sector stakeholders.

Hosted by the Ministry of New and Renewable Eneregy and ISA and supported by the Confederation
of Indian Industry (CII), the roadshow was the second in a nationwide series of regional events building
momentum ahead of BRE Summit 2026 to be held at Bharat Mandapam in New Delhi from 2nd to 5th
November, 2026. The event brought together senior representatives from the Ministry of New and
Renewable Energy (MNRE), the Government of Maharashtra and leading voices from across India's
renewable energy, banking and infrastructure sectors.

The Mumbai roadshow also highlighted the accelerating reach of India's clean energy programmes at
the grassroots level. Over 50 lakh households across the country are now generating their own solar
power under PM Surya Ghar: Muft Bijli Yojana, with central financial assistance of over Rs 28,000

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