India Requires USD 220 Billion to Achieve 500 GW Renewable Energy Capacity by 2030: MNRE Secretary

New Delhi, Oct 29 (KNN) India will require USD 220 billion in investment over the next four to four-and-a-half years to achieve its 500 GW renewable energy capacity target by 2030, Ministry of New and Renewable Energy (MNRE) Secretary Santosh Kumar Sarangi said on Wednesday.

The investment will cover renewable energy deployment, manufacturing, transmission infrastructure, green hydrogen and energy storage. The Bharat Renewable Energy Summit & Expo 2026, scheduled for November 2-5 at Bharat Mandapam in New Delhi, will focus on identifying ways to mobilise the required funding, PTI reported.

Of the projected investment, around USD 70 billion is expected to go into solar energy and USD 40-45 billion into transmission infrastructure. Wind energy is estimated to require USD 25-30 billion, green hydrogen USD 20-25 billion and energy storage USD 20 billion.

Manufacturing is expected to attract USD 15-20 billion, while hydropower investments are estimated at USD 12-15 billion. Bioenergy is projected to receive USD 3-5 billion.

"So, from the previous event till 2030, in different sectors, we require 220 billion dollars of investment. That includes deployment, manufacturing, transmission and green hydrogen. All of it together represents an estimated requirement of 220 billion dollars of investment. The idea is to identify a roadmap through which this resource could be mobilised over the next four to four-and-a-half years," Sarangi told reporters.

The official said financial investors, private equity firms, pension funds and mutual funds are expected to play a role in mobilising the investment.

India’s renewable energy sector has attracted nearly USD 64 billion in investments since the previous RE-Invest summit in 2024, the official said.

The Bharat Renewable Energy Summit & Expo 2026 will be held alongside the 9th Session of the International Solar Alliance Assembly and the 4th International Conference on Green Hydrogen.

The event, themed 'Invest. Innovate. Inspire.', is expected to bring together participants from more than 75 countries, over 400 exhibitors and more than 100 sessions. Prime Minister Narendra Modi is expected to inaugurate the summit.

(KNN Bureau)