India's Rapid Rise in Renewable Energy Leadership
Key Ideas
  • India, under PM Modi's leadership, has achieved remarkable renewable energy milestones, with 100 GW of solar capacity and plans to add 50 GW annually.
  • The country's tariff for solar power has significantly decreased, making it a global leader in affordable renewable energy.
  • The government aims to achieve 500 GW of non-fossil fuel capacity by 2030 and 1,800 GW by 2047, with a focus on increasing renewable energy financing.
  • India has become the third-largest renewable energy market globally and a pioneer in Green Hydrogen with initiatives like the SIGHT Programme.
Union Minister for New and Renewable Energy, Pralhad Joshi, highlighted India's significant progress in renewable energy at the India Energy Transition Conference in New Delhi. India, led by PM Narendra Modi, has rapidly achieved milestones such as 100 GW of solar capacity and plans to add 50 GW annually. The country's tariff for solar power has dropped by 80%, positioning India as a global leader in affordable renewable energy. The government aims to achieve 500 GW of non-fossil fuel capacity by 2030 and 1,800 GW by 2047, emphasizing the need for increased renewable energy financing. Minister Joshi also announced India's rise as the third-largest renewable energy market globally and a pioneer in Green Hydrogen, with initiatives like the SIGHT Programme focusing on green hydrogen production. The event also saw growing investor confidence in India's renewable energy sector, with substantial investment commitments secured. The launch of the FICCI report 'Powering India’s Energy Transition' underscored the country's commitment to sustainable energy development.
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