According to RE100’s latest annual disclosure report, over 180 prominent Indian and international corporations in India obtained approximately 25 per cent of their electricity requirements from renewable sources in 2022, bolstering the push for renewable energy in one of the world’s largest economies.
Renewable power procurement experienced a 5 per cent increase, rising to 23 per cent in 2022 from 18 per cent in 2021, marking significant growth in companies’ reliance on renewable energy for their electricity needs. As the number of RE100 companies grows in India, the report notes a rise in the overall power demand of RE100 members in the country, increasing from 12 TWh in 2021 to 17 TWh in 2022. Wind and solar projects accounted for 48 per cent of the renewable electricity acquired by RE100 members in India, while hydropower contributed 39 per cent to their renewable energy procurement.
RE100, comprising more than 400 influential businesses across 120 markets worldwide, pledges to transition to 100 per cent renewable power usage by 2050 at the latest. Nearly 185 of the members are either headquartered in India or have business operations there. The initiative aims to expedite the transition towards widespread adoption of zero-carbon grids.
