India on Track to Become Global Renewable Energy Leader
Key Ideas
  • India doubled its renewable energy capacity addition to 15 GW between April-November, showcasing significant progress in the sector.
  • The country aims to achieve 500 GW of non-fossil fuel-based generation capacity by 2030, with a strong focus on solar and wind energy.
  • The government is actively supporting initiatives like the Green Hydrogen Mission, with substantial financial allocations to promote electrolyser manufacturing and green hydrogen production.
  • Industry leaders emphasized the importance of financial health in the energy sector and highlighted the need for swift clearance of pending power agreements for continued growth.
During the April-November period of the current fiscal year, India witnessed a remarkable growth in its renewable energy sector, almost doubling the capacity addition to 15 GW compared to the previous year. Union Minister Pralhad Joshi expressed confidence in India becoming the global leader in renewable energy under the visionary leadership of Prime Minister Narendra Modi. With a total installed capacity in the non-fossil fuel sector reaching 214 GW, India is progressing steadily towards its goal of 500 GW of non-fossil fuel-based generation by 2030. The government's focus on clean energy is evident through initiatives like the Green Hydrogen Mission, aimed at promoting electrolyser manufacturing and green hydrogen production. The minister highlighted the significant investments and support provided under this mission to drive forward the adoption of green hydrogen. Additionally, the emphasis on solar energy is reflected in schemes like PM Surya Ghar Muft Bijli Yojana, empowering households to generate electricity through solar rooftops. Industry leaders at the conference discussed the challenges and opportunities in the renewable energy sector. Addressing issues such as financial health in the energy industry, the importance of bioenergy for achieving net-zero goals, and the role of wind energy in the renewable energy mix were key points of discussion. The urgent need to expedite clearance of pending power agreements and enhance evacuation infrastructure was also highlighted to ensure continued growth in the sector. Overall, the article showcases a positive sentiment towards the developments in India's renewable energy space, with a clear focus on achieving sustainable and green growth in the coming years.
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