Renewable energy sector may lease up to 7 million sq ft of warehousing space annually by 2030: Colliers India

Renewable energy equipment manufacturers (OEMs) in India leased close to 6.1 million sq ft of Grade A industrial and warehousing space across the top eight cities between 2021 and 2025, increasing their share in overall leasing activity from 3% to 8% during the period. As solar and wind energy projects gain momentum, annual space absorption by renewable energy firms is expected to rise to 4–7 million sq ft by 2030, accounting for 10–15% of total industrial and warehousing demand, according to a Colliers India report. The report said that solar and wind projects alone could require nearly 7 lakh acres of land by 2030, creating a $10–15 billion opportunity in land aggregation and acquisition. “Over the last five years, annual leasing by renewable energy OEMs has surged nearly 4X times to around 3 million sq ft of industrial and warehousing space uptake in 2025. Chennai and Pune have emerged as the preferred cities, cumulatively accounting for almost two-thirds of the space uptake since 2021. By 2030, annual Grade A space uptake by these OEMs is likely to reach 4-7 million sq ft, accounting for 10-15% of the overall industrial and warehousing demand,” Vimal Nadar, national director and head, research, Colliers India, said. The top eight cities include Ahmedabad, Bengaluru, Chennai, Delhi NCR, Hyderabad, Kolkata, Mumbai and Pune. Also Read: Foreign investment in Indian real estate dips 16% to $3.65 billion in 2025: Colliers Solar and wind projects to unlock $10–15 billion land opportunity India’s installed renewable energy capacity stood at 251 GW in 2025, with solar and wind accounting for nearly three-fourths of the total capacity mix. According to Colliers, the country is likely to add another 270–300 GW of solar and wind capacity by 2030 as it moves towards its target of achieving 500 GW of non-fossil fuel-based energy capacity. To support this expansion, nearly 7 lakh acres of land will be required across the country for upcoming solar and wind projects. The report estimates that land aggregation and acquisition alone could attract investments worth $10–15 billion by 2030. Colliers noted that land acquisition typically accounts for 10–12% of the total project cost of solar and wind developments. As investments in renewable energy projects are expected to reach $110–120 billion over the coming years, demand for large land parcels is likely to rise significantly across emerging renewable energy corridors. Badal Yagnik, CEO and managing director, Colliers India, said the renewable energy sector is entering a phase of accelerated growth that will create substantial opportunities for the real estate industry, particularly in land aggregation and industrial assets. “Most importantly, over the next few years, renewable energy will not only accelerate India’s decarbonization journey but also drive the development of growth corridors and investment destinations, catalysing long-term sustainable growth across the country,” he said. Also Read: Green office space inventory to touch 700 mn sq ft by 2027: Credai-Colliers Renewable energy manufacturing to boost industrial leasing The report also points to growing demand for industrial and warehousing facilities from renewable energy manufacturers. Annual leasing by renewable energy OEMs increased nearly fourfold over the last five years, reaching around 3 million sq ft in 2025. According to Colliers, the growth in warehousing demand will be driven by increasing domestic manufacturing of solar photovoltaic modules, wind turbines, battery storage systems, semiconductors and other renewable energy components. The report projects that renewable energy OEMs could account for 10–15% of India’s total Grade A industrial and warehousing demand by the end of the decade.