India Collaborates with States and Companies to Achieve Green Energy Targets
Key Ideas
  • States and companies in India commit to 540 GW of renewable capacity by 2030 and ₹32.45 lakh crore investments, showcasing significant dedication to green energy initiatives.
  • Challenges such as transmission lines, project financing, and awareness for schemes like PM-Kusum and rooftop solar are being addressed through collaboration between the Centre, states, and financial institutions.
  • Banks and financial companies commit ₹29.5 lakh crore by FY30 for financing green energy projects, with Ireda and State Bank announcing substantial commitments.
  • India is progressing in tenders for green hydrogen production and exploring demand for green hydrogen from various countries, with close to 50% of the country's green hydrogen production already allocated.
The Indian government, led by Union Minister Pralhad Joshi, is actively engaging with states and companies to support their efforts in achieving green energy targets. During the Global Renewable Energy Investors Meet and Expo (RE-Invest), states committed to installing 540 GW of renewable capacity by 2030, while companies pledged investments totaling ₹32.45 lakh crore. Key areas of concern, such as transmission lines, project financing, and implementation of initiatives like PM-Kusum and rooftop solar, are being addressed through collaborative efforts. Financial institutions have shown strong support, with commitments amounting to ₹29.5 lakh crore by FY30, including significant contributions from Ireda and State Bank. The government is also working on promoting solar energy in agriculture through the PM-Kusum scheme, with increasing demand from states for central allocation. The rooftop solar scheme has gained momentum, with over 13 million registrations and 325,000 installations. Challenges such as lack of net metering are being acknowledged and plans are in place to overcome them. Additionally, the focus is on green hydrogen, with progress in tenders and interest from multiple countries. Notably, almost half of India's green hydrogen production is already accounted for through agreements. The government's dedication to green energy initiatives is further highlighted by discussions with nations like Germany and Denmark on renewable energy collaborations.
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