Solar, wind expansion in India set to trigger $10-15 billion land investments by 2030
New Delhi, May 20
An estimated $110-120 billion investment is expected to flow into the Indian renewable energy sector in the next few years, primarily for solar and wind projects, a new report showed on Wednesday.
By 2030, the upcoming solar and wind projects would translate into $10-15 billion opportunity in land aggregation and acquisition. This growth outlook is led by the government's definitive targets to transition to cleaner and greener energy sources in its bid to become net zero in the long term, said the report by Colliers India.
"India's renewable energy capacity stands at 251 GW, and with another 270-300 GW of expected solar and wind energy additions by 2030, the sector is set to enter its next phase of accelerated growth," said Badal Yagnik, CEO and Managing Director at Colliers India.
This scale-up will create significant opportunities for the real estate sector, particularly in land, and industrial and warehousing segment.
Most importantly, over the next few years, renewable energy will not only accelerate India's decarbonisation journey but also drive development of growth corridors and investment destinations, catalysing long-term sustainable growth across the country, Yagnik added.
With non-fossil sources (renewables and nuclear energy) accounting for 51 per cent of the existing installed capacity and rapid advancements in domestic manufacturing capabilities, India is well positioned to comfortably achieve its target of 500 GW non-fossil-based capacity by 2030.
Typically, land aggregation and acquisition accounts for around 10-12 per cent of total costs for solar and wind projects.
For solar projects, majority of the land is aggregated and acquired either by private developers or central/state-level nodal authorities in case of relatively larger parks.
For wind projects, land is primarily acquired for construction of electrical substations and other critical infrastructure, while the area around turbine sites is often secured through leasing arrangements, said the report.
In the coming years, as renewable projects expand, the OEM segment is likely to account for a significant share in overall demand for industrial and warehousing spaces in India.
"Over the last five years, annual leasing by renewable energy OEMs has surged nearly 4X times to around 3 million sq ft of industrial and warehousing space uptake in 2025, said Vimal Nadar, National Director and Head, Research, Colliers India.
— IANS
Reader Comments
Impressive numbers. 3 million sq ft leased by OEMs in 2025 alone shows serious industrial momentum. I've seen similar land aggregation in Texas for wind farms. India's solar cost curve is dropping fast, making it competitive globally. Hope the grid infrastructure keeps pace though.
Good news but I'm worried about ecological impact. Solar parks in Rajasthan already face water scarcity for panel cleaning. And wind turbines near migratory bird routes? Let's not trade one environmental problem for another. Need proper Environmental Impact Assessments.
Finally! Our farmers can earn steady income by leasing land for solar panels. In my village in Maharashtra, solar pumps have already reduced electricity bills. But the government must ensure proper transmission lines are built, not just promises.
Interesting parallel to Australia's renewable boom. The 10-12% land cost share is similar to what we see in Queensland solar farms. India's 500 GW target by 2030 is ambitious but achievable if states cooperate on land acquisition policies. Corporate PPAs will drive this.
Great potential, but where's the plan for domestic solar panel manufacturing? We're still importing 80% from China. All this land acquisition won't reduce our import bill unless we build our own production capacity. Make in India needs to be pushed harder in solar.
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