India's Ambitious Renewable Energy Roadmap: Setting the Stage for a Green Future
Key Ideas
- Union Minister Pralhad Joshi announced the formation of a task force to achieve the goal of 500 GW of renewable energy by 2030 through collaboration with the Ministry of Power.
- Emphasis was placed on the need to install 288 GW of renewable energy capacity in the next six years, requiring a significant investment of ₹42 lakh crore, including transmission infrastructure.
- Plans include organizing hackathons for startups in the renewable energy sector, establishing a new Joint Centre of Excellence for R&D, and exploring green hydrogen production opportunities in Odisha.
- The event saw discussions on key topics like solar and wind energy deployment, green hydrogen, energy storage, land evacuation, and policy development, with a focus on achieving the ambitious 2030 renewable energy target.
Union Minister of New and Renewable Energy Shri Pralhad Joshi announced the establishment of a dedicated task force in collaboration with the Ministry of Power to achieve India's ambitious goal of reaching 500 GW of renewable energy capacity by 2030. This announcement was made during the Chintan Shivir event organized by MNRE in Bhubaneswar, Odisha. The Minister highlighted the need for 288 GW of renewable energy installation in the next six years, with a substantial investment requirement of ₹42 lakh crore, including transmission infrastructure. The event brought together industry leaders, state representatives, and PSU officials to discuss the challenges in the renewable energy sector and reaffirm India's commitment to achieving the 2030 target.
Furthermore, initiatives like hackathons for startups in the renewable energy sector, the establishment of a Joint Centre of Excellence for R&D, and the exploration of green hydrogen production opportunities in Odisha were announced. The event also emphasized the importance of finalizing Power Purchase Agreements (PPAs) and enforcing Renewable Purchase Obligations (RPOs) for successful renewable energy projects.
The focus extended to Odisha's renewable energy potential, with plans to develop the state as a major hub for renewable energy, including exploring opportunities for green hydrogen production and floating solar panels. Significant investments are in the pipeline for manufacturing capacities of solar modules and cells in Odisha. The event also discussed expanding schemes like PM Surya Ghar Yojana and Production Linked Incentive (PLI) for solar equipment manufacturing.
The Chintan Shivir 2024 was a platform for comprehensive discussions on critical topics like solar and wind energy deployment, green hydrogen, energy storage, and policy development to pave the way for achieving the 500 GW non-fossil fuel energy target by 2030. The event fostered collaborations among decision-makers, financial institutions, industrialists, and government officials involved in India's renewable energy journey.