India's Renewable Energy Revolution Under New Minister Shripad Yesso Naik
Key Ideas
  • India aims to achieve 500 GW of renewable energy capacity by 2030 under PM Modi's leadership, reducing dependence on fossil fuels and cutting down on carbon emissions.
  • As of October 31, 2024, India ranks fourth globally in installed renewable energy capacity, showcasing significant growth in solar and wind power sectors.
  • Key initiatives by the Ministry of Power and New & Renewable Energy include promoting renewable energy consumption, attracting investments, and implementing bidding guidelines for solar and wind projects.
  • Various schemes like PM-KUSUM, National Green Hydrogen Mission, and viability funding for offshore wind aim to accelerate the transition to clean energy, supported by policies like net metering and transmission line expansion.
Shripad Yesso Naik, the newly appointed Minister of State for Power and New & Renewable Energy in India, is spearheading the country's renewable energy sector towards ambitious climate goals. With a target of achieving 500 GW of renewable energy capacity by 2030, India under PM Modi's leadership aims to significantly reduce dependence on fossil fuels and carbon emissions. As of October 31, 2024, India has secured its position as the fourth largest globally in installed renewable energy capacity, emphasizing remarkable growth in solar and wind power sectors. The Ministry is actively implementing key initiatives to accelerate the transition to renewable energy, such as issuing bidding guidelines for solar and wind projects, promoting renewable energy consumption, and attracting investments through policies like 100% FDI permission and waived ISTS charges for certain projects. Schemes like PM-KUSUM and the National Green Hydrogen Mission are launched to boost clean energy adoption, while policies like net metering and transmission line expansion support the growth of the sector. Overall, India's renewable energy revolution is on the rise, with a strong dedication to achieving clean energy transition and meeting set goals under the Nationally Determined Contribution (NDC).
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