No joke this. India has already achieved 50% of its installed electricity capacity from non-fossil fuel sources, five years ahead of the target set under its Nationally Determined Contributions to the Paris Agreement, according to official data accessed by JharkhandStateNews.com 

As of 31 October 2025, the installed capacity from non-fossil sources stood at about 259 GW, with 31.2 GW added in the current financial year up to October 2025.

At several places it was reported that Ministry of New & Renewable Energy (MNRE) had issued advisory to lenders to pause fresh financing to Renewable Energy Projects amid significant overcapacity concerns.

It was hereby clarified that MNRE has not issued any advisory to Financial Institutions for stopping lending to either renewable energy power projects or to renewable energy equipment manufacturing facilities. 

However, MNRE has circulated to Department of Financial Servies and NBFCs like PFC, REC and IREDA. It gains the status of presently installed domestic manufacturing capacities across various sectors of solar PV manufacturing, including solar modules and upstream stages.

Also it includes solar cells, ingots-wafers, polysilicon as well as ancillary equipment like solar glass and aluminium frames. This was meant for the financial institutions which can adopt a calibrated and well-informed approach while evaluating proposals for financing any manufacturing facility in solar PV manufacturing sector.

The Government of India states that it id committed to make India self-reliant in solar PV manufacturing and establish the country as a major player in the global value chain. 

This commitment, it claims, is supported through a comprehensive set of initiatives, including the PLI Scheme for High Efficiency Solar PV Modules and measures to provide a level playing field for the Indian manufacturers. 

The catalytic effect of these interventions seem to have resulted in an expansion in solar module manufacturing capacity, from just 2.3 GW in 2014 to around 122 GW enlisted in MNRE’s Approved List of Models and Manufacturers (ALMM) today. 

Indeed this expansion underscores the success of Indian solar PV manufacturing story through the collective efforts of industry, various State Governments and the Government of India.

The move reinforces Indian government’s commitment to achieving 500 GW of non-fossil fuel capacity by 2030 and contributing meaningfully to global decarbonization efforts. MNRE remains committed to further strengthening the solar manufacturing ecosystem through continued policy support, infrastructure development, and innovation. 

The Ministry will continue engaging with stakeholders to ensure India’s solar journey remains inclusive, competitive, and future ready.