India will need land worth $10-15 billion by 2030 for solar, wind energy projects: Report

New Delhi: India will require around seven lakh acres of land over the next five years for solar and wind energy projects, with the land acquisition alone estimated to cost between $10 billion and $ 15 billion, according to a report by Colliers India.

The real estate consultancy, in its report titled The Green Shift: Renewable Prioritization Reshaping Indian Real Estate, said the land demand is driven by the country’s goal of achieving 500 GW of non-fossil fuel-based installed power capacity by 2030.

India’s renewable energy capacity has grown rapidly, rising more than threefold from about 80 GW in 2015 to over 250 GW in 2025.

As of March 2026, the installed renewable capacity stood at approximately 275 GW. The report estimates that solar and wind projects will add 270-300 GW of capacity by the end of the decade.

This expansion is expected to require nearly 7 lakh acres of land across the country. More than 6.5 lakh acres will be needed for solar projects between 2026 and 2030, with the rest for wind energy.

“By 2030, the upcoming solar and wind projects would translate into a $10-15 billion opportunity in land aggregation and acquisition,” the report said.

Colliers projected overall investments in the renewable energy sector at $110-120 billion in the coming years. It noted that land acquisition and approvals typically account for 10-12 per cent of total project costs.

Solar projects generally cost Rs 3-4 crore per MW, while onshore wind projects require Rs 8-9 crore per MW.

The report expressed confidence that India would meet its 2030 target, citing rapid advancements in domestic manufacturing.

It projected that solar capacity alone could reach 400-450 GW by 2030.At present, around 146 GW of renewable energy projects are under construction, with solar projects accounting for more than 60 per cent of the pipeline.

“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,” said Badal Yagnik, CEO and Managing Director at Colliers India.

The expansion is expected to open opportunities for the real estate sector in land aggregation, development of renewable-focused industrial parks, and warehousing.

Renewable energy original equipment manufacturers (OEMs) absorbed about 6.1 million square feet of Grade A industrial and warehousing space across the top eight cities between 2021 and 2025.