India, Oct. 5 -- The past decade saw an exponential growth in renewable capacity in India. A landmark 300 GW of non-fossil fuel capacity was achieved in August, accounting for more than 54% of the country's total installed generation capacity. Solar has grown from 2.8 GW in 2014 to approximately 165 GW, and the country added a record 55.29 GW of non-fossil capacity in the last financial year alone. Getting to this point did not happen by default and required sustained policy support, from PLI schemes for domestic solar manufacturing to bidding reforms, plus years of capital deployment by both public and private developers.

The capacity-addition challenge, however demanding, is at least a known one. It responds fairly predictably to capit...