Karamtara Engineering Ltd. IPO

India’s installed electricity generation capacity has expanded dramatically since independence, not just in scale, but in the composition of sources. Growth in demand has been answered not only by thermal power (coal, gas, lignite) but increasingly through renewables, particularly solar and ... wind. As of March 31, 2026, renewable and non-fossil fuel sources have crossed 53% of installed capacity, ahead of the Fiscal 2030 target. Despite challenges like the dominance of thermal power, India's renewable energy progress sets an example for other emerging economies. This shift aligns with the country's net-zero goals and contributes significantly to mitigating climate change. India is transitioning from coal-based power to renewable energy, with a projected total power generation capacity of 868 GW by Fiscal 2031E and surpassing renewable energy target of 500 GW by CY2030E, including 282 GW from solar power. Simultaneously, the country is strengthening and expanding its power transmission infrastructure to accommodate rising electricity demand and the increasing penetration of renewable energy into the grid. As India advances toward its target of 500 GW of non-fossil fuel power capacity by 2030, significant investments are being made in grid modernization, transmission corridors, and interstate transmission networks to facilitate the integration of renewable power. Consequently, demand for transmission infrastructure and related equipment is expected to witness sustained growth. In Fiscal 2026, the Government of India significantly increased its budgetary commitment to renewable energy and energy transition initiatives. The Ministry of New and Renewable Energy (MNRE) was allocated INR 32,915 crore in the Union Budget 2026-27, representing a 30% increase over the revised Fiscal 2025 allocation. Among the key programs, the PM Surya Ghar: Muft Bijli Yojana was allocated INR 22,000 crore, accounting for nearly two-thirds of the ministry’s total budget and underscoring the government's strong focus on accelerating rooftop solar adoption across households. The increased allocation is expected to support India’s broader renewable energy ambitions, strengthen domestic solar manufacturing, and advance the country's target of achieving 500 GW of non-fossil fuel power capacity by 2030. Read more