INDUSTRY OUTLOOK

1. Strong Growth Trajectory

India aims to reach 500 GW of non-fossil fuel capacity by 2030. As of 2025, installed renewable capacity (excluding large hydro) stands at over 137 GW. Utility-scale projects contribute ~85% of new renewable installations.

2. Dominance of Solar and Rise of Hybrid

Utility-scale solar continues to dominate due to falling costs and high scalability. Hybrid projects (solar + wind) are gaining traction for grid balancing and power reliability. Round-the-Clock (RTC) power tenders are rising, integrating storage for firm power supply.

3. Accelerated Demand from Corporates

Growing demand fromindustries, data centers, and commercial users for green power. ESG mandates and decarbonization targets driving private investments.

4. Government Policy Support

Inter-state transmission (ISTS)charge waiver extended till 2030 for solar and wind. PLI schemesfor solar modules, advanced batteries, and green hydrogen infrastructure. Flexible ALMM (Approved List of Models and Manufacturers) implementation to support execution

5. Energy Storage Becoming Critical

Surge in Battery Energy Storage System (BESS) tenders to complement solar/wind. Storage is essential for peak-hour reliability and RTC delivery. Government pilot schemes and Viability Gap Funding (VGF) being introduced for BESS.

6. International Capital & FDI Flowing In

India attracts $10 billion FDI in renewablesin last five years. Climate-focused funds, sovereign investors, and multilateral banks are active. Partnerships with global developers in solar, wind, and hydrogen.

7. Future Outlook (2025–2030)

Expected 15–20% CAGR in utility-scale renewables. Share of hybrid and RTC projects will grow rapidly. BESS and green hydrogen-linked renewablesto emerge as new growth segments.

8. Strategic Opportunity

India is evolving into a global renewable hub with manufacturing, R& D, and export potential. Early movers in storage, RTC, and green hydrogen are best positioned for long-term gains.

Latest shareholding pattern of Onix Renewable Ltd.