New Delhi, India will need around 7 lakh acres of land parcels, estimated to cost USD 10-15 billion, in five years to set up solar and wind energy projects, according to a report.
On Wednesday, real estate consultant Colliers India released a report 'The Green shift: Renewable prioritization reshaping Indian real estate'.
In 2025, India's installed renewable energy capacity reached over 250 GW, a more than three-fold increase from around 80 GW in 2015. As of March 2026, around 275 GW of capacity from renewable fuel sources has been installed in the country.
The consultant has estimated that about 270-300 GW of solar and wind capacity additions by 2030.
"We foresee a requirement of around 7 lakh acres for upcoming solar and wind projects in India by 2030. This can resultantly lead to USD 10-15 billion of investments in land alone," the report said.
During 2026-2030 calendar years, more than 6.5 lakh acres would be needed for solar projects and the rest for wind energy.
The consultant mentioned that solar project costs in India typically range between Rs 3-4 crore per MW, while wind (onshore) projects require about Rs 8-9 crore per MW on investments depending on the technology deployed.
"With rapid advancements in domestic manufacturing capabilities, we expect India to comfortably achieve the 2030 target of 500 GW of renewable energy capacity," the report said.
In fact, by 2030, solar projects alone could potentially have an installed capacity of 400-450 GW.
"Overall, around USD 110-120 billion of investments can flow into the renewable energy sector in the next few years," Colliers said, adding that around 10-12 per cent of the project cost of a renewable energy project is related to land and approvals.
Currently, around 146 GW of renewable energy projects are under-construction, with solar projects accounting for more than 60 per cent of this pipeline.
The consultant noted that the rapid expansion of renewable energy capacity would create opportunities for India's real estate sector, particularly in land aggregation, and renewable-focused industrial parks.
"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." says Badal Yagnik, CEO & Managing Director at Colliers India.
Renewable energy OEMs (original equipment manufacturers) registered around 6.1 million sq ft of Grade A industrial & warehousing space absorption across the top eight cities during 2021-2025 period, the report said.
