India's Remarkable Progress in Renewable Energy: Leading the Global Transition
Key Ideas
- India under Prime Minister Modi's leadership has achieved almost 100 GW of solar capacity and aims to add 50 GW of new renewable capacity annually.
- Renewable capacity in India has surged by almost 200% in the last decade, with a significant decrease in solar power plant tariffs, making renewable energy more affordable.
- India is on track to achieve 500 GW of non-fossil fuel capacity by 2030 and is recognized as a global leader in Green Hydrogen production.
- The country has strong investor confidence in the renewable energy sector, with substantial investment commitments and pledges for solar and wind capacity.
Union Minister for New and Renewable Energy, Shri Pralhad Joshi, highlighted India's exceptional advancements in the renewable energy sector at the third India Energy Transition Conference in New Delhi. India, under Prime Minister Narendra Modi's leadership, has not only set ambitious energy transition goals but has been achieving them rapidly. The country has reached nearly 100 GW of solar capacity and plans to add 50 GW of new renewable capacity annually. In the last decade, India's renewable capacity has grown by almost 200%, with a significant 80% decrease in solar power plant tariffs, making renewable energy more accessible. The Minister emphasized India's commitment to achieving 500 GW of non-fossil fuel capacity by 2030 and a further target of 1,800 GW by 2047. India is also excelling in Green Hydrogen production, with initiatives like the SIGHT Programme driving innovation. The sector has attracted strong investor confidence, evidenced by the significant investment commitments at events like RE-Invest. The Minister stressed the importance of continuous engagement with stakeholders to address challenges in the renewable energy sector, ensuring sustainable growth for India's energy transition.
Topics
Installation
Renewable Energy
Sustainability
Investment
Energy Transition
Global Leadership
Economic Growth
Green Initiatives
Policy Stability
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