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C&I Renewable Energy Capacity Projected to Climb to 57 GW by FY28

India’s commercial and industrial (C&I) renewable energy capacity is expected to witness strong growth, reaching 57 GW by FY28, up from an estimated 40 GW by the end of FY26. This translates into an addition of nearly 17 GW within two years, driven by increasing corporate decarbonisation efforts and the cost advantage of renewable power over conventional grid tariffs.

According to Crisil Ratings, the anticipated expansion will be supported by competitively priced long-term power purchase agreements (PPAs) compared to grid tariffs, corporate net-zero targets, renewable purchase obligations (RPOs), favourable returns for developers, and financially stable counterparties.

The C&I segment continues to account for the largest share of electricity consumption in the country. Its transformation has been accelerated by the Green Energy Open Access Rules, 2022, which allow industrial and commercial consumers to procure renewable energy directly through existing transmission and distribution networks.

Commenting on the trend, Gautam Shahi, Director at Crisil Ratings, noted that following the introduction of the GEOA framework, leading industrial states have rolled out supportive open access policies aimed at speeding up renewable adoption and drawing fresh investments into the sector.