India Targets 500 GW Renewable Capacity By 2030, Aims For 1,800 GW By 2047: Minister Pralhad Joshi

ENA Sectors 2025-01-30 14:25:01 New Delhi, Jan 30 (KNN) India is rapidly emerging as a global leader in renewable energy transition, according to Union Minister for New and Renewable Energy, Pralhad Joshi, who addressed the third India Energy Transition Conference organised by FICCI in New Delhi. The minister highlighted the nation's unprecedented achievements in scale, speed, and scope of implementation across the renewable energy sector. Under Prime Minister Narendra Modi's leadership, India has demonstrated remarkable progress in achieving its ambitious energy transition goals. The country has reached nearly 100 GW of solar capacity and plans to add 50 GW of new renewable capacity annually. The past decade has witnessed an extraordinary 200 percent surge in installed renewable capacity, expanding from 75.52 GW in 2014 to 220 GW at present. Notably, the tariff for grid-connected solar power plants has experienced an 80 percent reduction, declining from Rs 10.95 per unit in 2010-11 to Rs 2.15 per unit, establishing India as a leader in cost-effective renewable energy solutions. The minister attributed India's success in renewable energy to consistent policy frameworks and strategic long-term planning. The nation is progressing steadily toward its target of 500 GW non-fossil fuel capacity by 2030, with an ambitious vision of reaching 1,800 GW by 2047. The PM SuryaGhar Yojana has already facilitated 8.5 lakh solar panel installations toward its goal of 1 crore installations, with beneficiaries reporting income generation from rooftop solar systems. With India's energy demand projected to double by 2032, the Ministry of New and Renewable Energy is actively addressing sector challenges through increased stakeholder engagement and consultations. The country has achieved significant international recognition, surpassing Brazil to become the world's third-largest renewable energy market. In the green hydrogen sector, India has established itself as a global leader through initiatives like the SIGHT Programme, which focuses on electrolyser manufacturing and production capabilities. Investor confidence in India's renewable energy sector remains robust, as evidenced by the recent RE-Invest event in Gandhinagar, where investment commitments of Rs 32.45 lakh crore were secured, along with pledges for 540 GW of solar and wind capacity. The event also featured the launch of FICCI's report on 'Powering India's Energy Transition,' with Department of Financial Services Secretary M Nagaraju in attendance. (KNN Bureau) 40852 https://knnindia.co.in/news/newsdetails/sectors/india-targets-500-gw-renewable-capacity-by-2030-aims-for-1800-gw-by-2047-minister-pralhad-joshi 2025-01-30 14:25:01 knnindia.co.in India Targets 500 GW Renewable Capacity By 2030, Aims For 1,800 GW By 2047: Minister Pralhad Joshi