India's Rapid Rise in Renewable Energy Sector: A Vision for a Green Future
Key Ideas
  • Renewable energy capacity in India almost doubled to 15 GW in April-November compared to the previous year, with a target of 500 GW non-fossil fuel-based capacity by 2030.
  • The government introduced schemes like PLI for solar panel manufacturing and solar parks to boost domestic production and achieve sustainable energy growth.
  • India attracted $6.1 billion FDI in renewable energy in the last three years, aiming for a green and sustainable energy revolution under visionary leadership.
  • The National Green Hydrogen Mission is progressing with significant investments in electrolyser manufacturing and green hydrogen production, showcasing a commitment to green technologies.
India is witnessing a rapid expansion in its renewable energy sector, with a significant increase in capacity addition during the April-November period of this fiscal year. Union Minister Pralhad Joshi highlighted India's journey towards becoming a global renewable energy leader under Prime Minister Narendra Modi's leadership. The country aims to achieve 500 GW of non-fossil fuel-based capacity by 2030, with a current total installed capacity of 214 GW. Initiatives like the PLI scheme for solar manufacturing and the establishment of solar parks are driving sustainable growth in the sector. The government's focus on renewable energy is evident from the $6.1 billion FDI attracted into the sector in the past three years. Additionally, schemes like PM Surya Ghar Muft Bijli Yojana are empowering households to generate solar energy and contribute to the green energy revolution. The National Green Hydrogen Mission is another key aspect of India's green transition, with allocated funds for electrolyser manufacturing and green hydrogen production, emphasizing the commitment to eco-friendly technologies. With ambitious yet achievable goals, India is poised to solidify its position as a renewable energy capital, signaling a promising outlook for a sustainable and green future.
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