C&I Renewables To Reach 57 GW By FY28

06 Mar 2026 CW Team

The Green Energy Open Access Rules, 2022, enabled industrial units and commercial establishments to source renewable power using transmission and distribution infrastructure, accelerating adoption in industrial states. States have announced policies to fast-track open access, offering rebates on cross-subsidy, wheeling and state transmission utility charges for intra-state sourcing, lowering the landed cost of power by 25 to 30 per cent versus on-grid tariffs. Such incentives have made C&I projects more financially attractive relative to utility-scale projects.

Energy-intensive sectors such as steel, cement and data centres are leading the shift as companies align procurement with internal net-zero targets and compliance obligations. Private equity-backed developers are expected to dominate additions, given higher returns on equity in C&I projects supported by better tariffs and counterparties with robust credit profiles. Crisil Ratings notes an average PPA tenure of around 15 years, about 65 per cent of rated capacity tied to counterparties with High Safety credit profiles and a weighted average debt service coverage ratio of 1.4 times over the next two fiscals.

Infrastructure constraints and policy continuity remain key risks, with limited intra-state transmission capacity and right-of-way issues affecting project timelines and costs. States must balance open access incentives against distribution utilities' revenue implications, and any recalibration of incentives could raise landed power costs even though tariffs are expected to remain competitive versus grid supply. With India targeting 500 GW of non-fossil capacity by 2030, the C&I segment is emerging as a pillar in meeting clean energy goals while offering returns to developers and cost savings to corporates.

India's commercial and industrial renewable energy capacity is set to rise to 57 gigawatts (GW) by FY28, up from 40 GW expected by the end of FY26, marking a 17 GW addition in two years as corporate decarbonisation and tariff arbitrage drive demand. Crisil Ratings projects the expansion will be anchored by favourable long-term power purchase agreement tariffs vis-à-vis grid tariffs, corporate net-zero commitments, renewable purchase obligations and attractive developer returns. The report also identifies strong counterparty credit profiles as a key enabler of the market. The Green Energy Open Access Rules, 2022, enabled industrial units and commercial establishments to source renewable power using transmission and distribution infrastructure, accelerating adoption in industrial states. States have announced policies to fast-track open access, offering rebates on cross-subsidy, wheeling and state transmission utility charges for intra-state sourcing, lowering the landed cost of power by 25 to 30 per cent versus on-grid tariffs. Such incentives have made C&I projects more financially attractive relative to utility-scale projects. Energy-intensive sectors such as steel, cement and data centres are leading the shift as companies align procurement with internal net-zero targets and compliance obligations. Private equity-backed developers are expected to dominate additions, given higher returns on equity in C&I projects supported by better tariffs and counterparties with robust credit profiles. Crisil Ratings notes an average PPA tenure of around 15 years, about 65 per cent of rated capacity tied to counterparties with High Safety credit profiles and a weighted average debt service coverage ratio of 1.4 times over the next two fiscals. Infrastructure constraints and policy continuity remain key risks, with limited intra-state transmission capacity and right-of-way issues affecting project timelines and costs. States must balance open access incentives against distribution utilities' revenue implications, and any recalibration of incentives could raise landed power costs even though tariffs are expected to remain competitive versus grid supply. With India targeting 500 GW of non-fossil capacity by 2030, the C&I segment is emerging as a pillar in meeting clean energy goals while offering returns to developers and cost savings to corporates.

Real Estate

28 Mar 2026

Housing Sales Dip 7 per cent QoQ Across Top Cities

India’s housing market saw a 7 per cent quarter-on-quarter decline in sales across the top seven cities in Q1 2026, with approximately 1,01,675 units sold compared to 1,08,970 units in Q4 2025, according to ANAROCK Group. However, on a yearly basis, sales rose 9 per cent, indicating continued underlying demand.The total sales value stood at around Rs 1.51 trillion, reflecting a 5 per cent quarterly drop but a 6 per cent annual increase. Mumbai Metropolitan Region and Bengaluru together accounted for nearly 48 per cent of total sales, while Chennai recorded the highest quarterly decline at 18..

Real Estate

28 Mar 2026

Birla Estates Enters Mumbai Redevelopment

Birla Estates has announced its entry into Mumbai’s redevelopment segment with a luxury residential project in Khar West, developed in partnership with Parinee Real Estate Builders. The project will redevelop Anmol Co-operative Housing Society and Bhartiya Bhavan Co-operative Housing Society, marking the company’s first redevelopment initiative in the Mumbai Metropolitan Region.Spread across 1.3 acres, the development will offer a saleable area of 2.9 lakh sq ft with an estimated revenue potential of Rs 17 billion. Positioned in one of Mumbai’s prime residential micro-markets, the projec..

Infrastructure Urban

28 Mar 2026

Hitachi, MUFG Expand EV Financing Model

Hitachi and MUFG Bank have expanded their NextGen business co-creation model to accelerate decarbonised mobility by financing electric vehicles and charging infrastructure. The renewed collaboration aims to address key barriers to electrification, including limited access to capital and the need for integrated energy solutions.Building on earlier partnerships, the expanded model extends beyond battery-focused solutions to include electric mobility assets, charging systems and energy management infrastructure across global markets. The initiative will leverage structured financing through speci..