Renewable Energy Set to Soar to 65% by 2030: Union Minister R K Singh

New Delhi, Feb 10 (KNN) Union Minister RK Singh has disclosed that India's current reliance on non-fossil sources for energy stands at about 44 per cent, with projections indicating a remarkable increase to as high as 65 per cent by 2030.

This figure significantly surpasses the nation's commitment made at the COP summit in 2021.

Additionally, India aims to reduce the emissions intensity of the Gross Domestic Product (GDP) by 45 per cent and achieve net-zero emissions by 2070.

Minister Singh, speaking at The Energy and Resources Institute's World Sustainable Development Summit 2024, highlighted the country's strides in renewable energy.

He revealed that India is on track to exceed its COP26 commitments, with an expected non-fossil capacity of 60 to 65 per cent by 2030.

Singh emphasised India's unprecedented pace of energy transition, citing the construction of 103,000 megawatts of renewable capacity and 71,000 megawatts under bid.

He underscored India's unique initiatives, such as issuing bids for round-the-clock renewable energy and prioritising storage to drive down costs.

India's per capita emissions, Singh noted, are among the lowest globally, standing at 2.0 to 2.6 tonnes compared to the world average of 6.8 tonnes.

He pointed out the disproportionate carbon burden borne by developed countries, attributing 77 per cent of the legacy carbon dioxide load to them, in contrast to India's 3 per cent contribution despite having 17 per cent of the global population.

He advocated for developing countries to be allotted carbon space for their development, stressing the need for financial assistance and technology access to facilitate the energy transition.

Singh concluded by mentioning the imperative to lower the cost of energy transition for widespread adoption.

(KNN Bureau)