India On Track To Achieve 500 GW Renewable Energy Target By 2030: Minister Joshi

New Delhi, Mar 28 (KNN) Union Minister for New & Renewable Energy Pralhad Joshi recently announced India's strong progress towards its ambitious renewable energy objectives during the Times Now Summit 2025.

The minister reported that the nation is firmly on track to achieve its 500 GW renewable energy target by 2030, bolstered by substantial investment commitments and robust infrastructure development.

Current data reveals that India has already surpassed 223 GW of non-fossil-fuel capacity, including 103 GW of solar and nearly 50 GW of wind energy.

Renewable energy project bids are currently outstanding for approximately 169 GW, indicating substantial momentum in the sector.

The government has also implemented viability gap funding for offshore wind projects to further accelerate growth.

Investment prospects in the renewable energy sector appear particularly promising, with commitments totalling Rs 32 lakh crore.

Joshi expressed confidence in these investment potentials, noting that financial institutions are increasingly enthusiastic about green project financing.

To facilitate this, the minister recently conducted a comprehensive workshop involving CEOs and managing directors from both private and public sector banks, as well as non-banking financial companies.

Highlighting India's global standing, Joshi emphasised that the country is currently the third-largest producer of renewable energy worldwide.

The rapid expansion of the sector not only represents a significant step towards sustainable development but also positions India as a key player in the global transition to clean energy.

(KNN Bureau)