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India's Green Energy Boom Fuels Real Estate Growth
22 May
Summary
- India aims for 500 GW non-fossil capacity by 2030.
- Renewable energy sector to attract $110-120 billion investment.
- OEMs to lease 4-7 million sq ft of space annually by 2030.
India's renewable energy capacity is projected to reach 500 GW of non-fossil sources by 2030, supported by strong government policies and substantial investments. The sector anticipates an influx of $110-120 billion, with solar and wind energy leading the expansion.
This surge in renewable energy projects is unlocking new frontiers for the real estate sector. An estimated 7 lakh acres of land will be required for upcoming solar and wind projects by 2030, presenting a significant opportunity in land aggregation and acquisition worth $10-15 billion.
Furthermore, Original Equipment Manufacturers (OEMs) in the renewable energy space are expected to drive substantial demand for industrial and warehousing spaces. By 2030, annual leasing by these firms is predicted to reach 4-7 million sq ft, accounting for 10-15% of the total industrial and warehousing demand across India.
