New Delhi, Aug. 22 -- India could add around 45-50 gigawatts of renewable energy capacity annually over the next two years, supported by a large pipeline of projects awaiting power purchase agreements (PPAs), according to Nuvama Research.

The research firm said around 140 gigawatts of renewable capacity is yet to be converted into PPAs, while about 86 gigawatts of capacity already has PPAs. Based on this pipeline, Nuvama expects renewable energy additions to accelerate over the next two years.

"Given ~86GW of existing PPAs, we believe annual RE additions of ~45-50GW over the next two years are achievable, including solar rooftop additions," Nuvama said in its latest power sector update.

The report said around 2.26 lakh megawatts of ren...