India's Remarkable Progress in Renewable Energy Sector: A Path Towards Sustainable Growth
Key Ideas
  • India's renewable energy capacity addition nearly doubled to 15GW in the April-November period, reflecting the country's commitment to achieving 500GW non-fossil capacity by 2030.
  • The government is focused on transforming the energy sector towards sustainable and green growth, with plans including setting up solar parks, incentivizing domestic manufacturing, and supporting green hydrogen production.
  • India has attracted significant FDI into the renewable energy sector and is empowering households through schemes like PM Surya Ghar Muft Bijli Yojana, aiming for 1 crore solar rooftop installations by 2026-27.
  • Under the Green Hydrogen Mission, the government is providing substantial support for Electrolyser Manufacturing and Green Hydrogen production, with ongoing tenders aiming to increase green hydrogen and ammonia production.
India has made substantial progress in its renewable energy sector, with the addition of 15GW of capacity in the April-November period of the fiscal year, signaling a strong commitment towards achieving the target of 500GW of non-fossil fuel capacity by 2030. Union New & Renewable Energy Minister Pralhad Joshi highlighted the country's achievements in clean energy under the leadership of Prime Minister Narendra Modi, emphasizing India's role as a promising nation in the clean energy space. The government's efforts include setting up solar parks, introducing production-linked incentives to boost domestic manufacturing of solar panels, and empowering households through schemes like PM Surya Ghar Muft Bijli Yojana. Furthermore, the minister mentioned the Green Hydrogen Mission, which aims to support Electrolyser Manufacturing and Green Hydrogen production. Significant investments and subsidies have been allocated for these initiatives, with ongoing tenders to increase green hydrogen and ammonia production. Joshi also expressed the government's openness to industry participation and suggestions for further support in the renewable energy sector. The ministry has prepared proposals to enhance renewable energy purchase obligations and power transmission infrastructure, indicating a proactive approach towards boosting the sector in the upcoming budget. Overall, India's progress in renewable energy signifies a path towards sustainable and green growth, backed by strong government initiatives and industry collaborations.
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