Green Bonds and collaborations leading the way for clean energy adoption

Targeted skill development programmes and research initiatives are cultivating a competent workforce to sustain the sector’s growth.

The renewable energy sector of India is at a pivotal juncture as the country pursues its ambitious goal of achieving 500 GW of non-fossil fuel capacity by 2030. This transformative journey is characterised by a concerted effort to reduce reliance on coal, accelerate the adoption of clean energy technologies, and overcome investment and infrastructure challenges. India is promoting green bonds, infrastructure investment trusts (InvITs), and public-private partnerships to bridge the investment gap. Moreover, targeted skill development programmes and research initiatives cultivate a competent workforce to sustain the sector’s growth.

EPR analyses the evolving energy landscape, featuring industry experts’ insights on key strategies and collaborative efforts.

Meeting 2030 clean energy targets

Renewable energy has made remarkable progress, but sustaining this momentum to meet the ambitious 2030 clean energy targets requires a multifaceted approach.

Raman Bhati from Servotech Renewable Power System Ltd highlights the importance of policy consistency and clarity. “Long-term, predictable policies are crucial for attracting sustained investment. Streamlining regulatory processes and ensuring grid stability will help accommodate the growing influx of renewable energy.” He also emphasises diversifying the renewable energy mix by further developing wind, biomass and pumped hydro storage to address intermittency challenges. “Promoting decentralised renewable solutions in rural areas will enhance energy access and reduce transmission losses,” he adds.

Echoing this sentiment, Juhi Marwadi from Pixon Green stresses the need for a holistic approach integrating technological advancements, policy support, and financial innovation. “Strengthening domestic manufacturing of high-efficiency solar PV modules and energy storage solutions will ensure energy security and reduce import dependence,” she states. Additionally, she calls for regulatory streamlining, expanding transmission infrastructure, and incentivizing corporate and residential solar adoption through innovative financing models. “By fostering innovation, collaboration, and sustainable investments, India can not only meet but exceed its renewable energy ambitions,” she asserts.

Overcoming investment shortfall

Addressing the investment shortfall in the renewable energy sector is a top priority. To bridge this gap, the country is implementing a multi-pronged approach combining policy support, financial innovation, and industry collaboration.

“India is employing innovative financing mechanisms, such as green bonds and infrastructure investment trusts (InvITs), to attract private capital,” says Raman Bhatia. Strengthening public-private partnerships (PPPs) is also key to leveraging the expertise and resources of the private sector. The government provides payment security mechanisms and improves contract enforcement to mitigate risks further. International collaborations and foreign direct investment (FDI) remain essential to this strategy.

Juhi Marwadi highlights additional government initiatives supporting the adoption of clean energy. “Schemes like PM-KUSUM and the National Green Hydrogen Mission encourage large-scale renewable energy projects. Favourable policy reforms, viability gap funding, and tax benefits further strengthen investor confidence,” she explains. Infrastructure development and the expansion of green bonds and renewable-focused InvITs enhance the financial ecosystem.

Promoting domestic manufacturing through Production Linked Incentive (PLI) schemes is another key step. “By reducing reliance on imports and supporting the local production of solar panels and wind turbines, India is fostering a resilient supply chain and boosting investments,” adds Bhatia.

However, Amit Kansal underlines the importance of localised manufacturing in strengthening the sector. “Through our ‘Make in India for India and the World’ approach, we source most of our components locally. This shortens lead times, lowers costs, and addresses supply chain challenges that emerged during the COVID-19 pandemic,” he says. Senvion’s 4 MW+ platform, progressing toward type-testing and RLMM listing, is expected to solidify its position as a technological leader, attracting domestic and international investments.

By fostering policy stability, supporting financial innovation, and promoting local manufacturing, India is paving the way for a sustainable energy future. As Kansal emphasises, “These efforts align with the Paris Agreement’s goals and position India as a leader in renewable energy innovation.”

land acquisition and infrastructure development

The country is addressing the challenges of land acquisition and infrastructure development to accelerate renewable energy projects through policy reforms, strategic planning, and technological advancements.

Amit Kansal underscores the significance of addressing land acquisition and infrastructure challenges to reach 500 GW of non-fossil fuel capacity by 2030. “The Green Energy Corridor project, launched in phases since 2015, has enhanced transmission infrastructure, adding approximately 14,000,000 circuit miles of lines and substations by 2023,” he notes.

He further highlights the impact of the PM Gati Shakti National Master Plan in simplifying project clearances through single-window approvals. “Using non-arable and wasteland for solar and wind projects minimises agricultural disputes while making renewable farms sustainable,” he adds. Senvion’s Certified Sites service helps developers identify optimal wind project locations. “Our Wind Resource Assessments and Annual Energy Production evaluations provide accurate energy yield forecasts,” Kansal explains. “By conducting Complete Site-Specific Load Assessments, we mitigate structural and operational risks, improving project reliability and timelines.”

Raman Bhatia highlights the importance of innovative approaches to streamline the acquisition process. “We are promoting land pooling and leasing models to simplify land access for renewable energy projects. Additionally, dedicated renewable energy parks with pre-identified land parcels and necessary infrastructure are reducing project timelines.”

The government is investing significantly in expanding transmission networks through initiatives like the Green Energy Corridor to strengthen grid connectivity. “Digitalisation and smart grid technologies are enhancing grid management and flexibility, ensuring seamless renewable energy integration,” Bhatia adds. Collaborative efforts with state governments are further expediting clearances and approvals.

Juhi Marwadi echoes the sentiment, emphasising the role of government interventions in removing bottlenecks. “Solar and wind energy parks with pre-approved infrastructure facilitate faster project execution. Initiatives like the Green Energy Corridor ensure efficient power evacuation from renewable hubs to demand centres.”

Furthermore, technological solutions are expediting land acquisition and regulatory processes. “Digitisation of land records, single-window clearance systems, and state-level policies are significantly reducing bureaucratic delays,” notes Marwadi.

In a push for inclusive development, schemes like PM-KUSUM encourage agrivoltaics, promoting dual land use by integrating solar power generation with agricultural activities. Additionally, public-private partnerships are fostering greater investments and expertise in the sector. At PIXON, Marwadi reaffirms the company’s commitment to supporting India’s clean energy goals. “We deliver high-performance solar solutions aligned with the nation’s vision for a sustainable and energy-secure future.”

Enhancing skill development

Skill development is pivotal in strengthening the renewable energy workforce. Raman Bhatia highlights, “India is implementing various initiatives to enhance skills across the value chain. The Skill Council for Green Jobs is vital in developing industry-aligned training programmes. Renewable energy courses are integrated into vocational training institutions and engineering colleges, while apprenticeship programmes and on-the-job training provide practical experience.” Specialised training programmes also enhance the capacity of installers, technicians, and project managers.

Juhi Marwadi emphasises the government’s multifaceted approach: “India prioritises skill development in the renewable energy sector through government initiatives, industry collaborations, and academic partnerships. Programmes like the Surya Mitra Skill Development Scheme and the National Institute of Solar Energy (NISE) training programmes equip professionals with specialised expertise in solar technology, installation, and maintenance.” Additionally, public-private partnerships are bridging the skill gap, encouraging companies to invest in workforce training.

The rapid expansion of green hydrogen, energy storage, and solar manufacturing has further accelerated the need for upskilling and reskilling initiatives aligned with industry demands. “At Pixon, we believe in empowering the workforce with cutting-edge knowledge and practical training, ensuring India’s renewable energy sector remains globally competitive and future-ready,” adds Marwadi.

Balancing reliance on coal with renewable energy

Balancing the country’s reliance on coal with its renewable energy ambitions is a complex challenge. Raman Bhatia emphasises the need for a gradual and just transition, stating, “While we are aggressively expanding renewable energy capacity, coal continues to play a role in ensuring energy security and meeting our growing energy demand. However, we are committed to reducing our reliance on coal through several measures.”

A key strategy involves enhancing the efficiency of existing coal-fired power plants to minimise emissions. Additionally, the adoption of clean coal technologies, such as carbon capture, utilisation, and storage (CCUS), is gaining traction. “A phase-down of older, less efficient coal plants is also underway,” Bhatia notes. Ensuring a just transition for coal-dependent communities remains a priority, with alternative livelihood opportunities and retraining programs being introduced.

Juhi Marwadi highlights India’s strategic phased transition approach, prioritising energy security while promoting clean energy adoption. “Recognising that coal remains a critical component of its energy mix, India is focusing on gradual decarbonisation, improving coal efficiency, and integrating renewable energy into the grid to reduce dependence over time,” she explains.

Key policies supporting this transition include the flexibilisation of coal plants, investments in energy storage solutions, and the development of hybrid renewable projects. Furthermore, initiatives like the National Green Hydrogen Mission, carbon trading mechanisms, and increased green finance encourage industries to adopt cleaner alternatives. “By repurposing coal sites for solar and wind projects, India is ensuring a just energy transition without disrupting economic growth or employment,” Marwadi adds. At Pixon, the focus remains on supporting this transformation. “We are providing high-efficiency solar solutions to help India move toward a sustainable and resilient energy future,” says Juhi. With continued investments in renewable technologies and strategic policy implementation, India is progressing steadily towards achieving a low-carbon energy mix.

Predictive maintenance enhancing wind turbine performance

Predictive maintenance is revolutionising wind turbine performance, with Senvion’s FleetPro™ SCADA system leading the way. “FleetPro™ enhances turbine management by leveraging real-time monitoring, AI-driven analytics, and predictive maintenance to detect anomalies early and reduce unplanned downtime by 20-30 percent,” says Amit Kansal. The system enables proactive decision-making that enhances energy production and extends turbine lifespan by analysing data on vibration, temperature, and power output.

This technology offers significant advantages in India, where wind farms often experience seasonal wear and tear. “Integrating weather forecasting with FleetPro™ boosts resilience, optimising turbine settings to withstand extreme conditions like high winds and lightning,” Kansal adds. Predictive models anticipate challenges, ensuring turbines operate at peak efficiency while minimising damage risk.

To conclude, India’s proactive approach to overcoming renewable energy challenges through strategic investments, policy support, and technological innovation positions it as a global leader in the clean energy transition.