India's Renewable Energy Growth and Ambitious Targets for 2030
Key Ideas
  • India's renewable energy capacity has significantly grown to nearly 210 GW from 76 GW in 2014, with a target of 500 GW by 2030.
  • Solar energy in India has seen remarkable growth, with capacity jumping from 2.6 GW in 2014 to 91 GW in 2023, projected to reach 300 GW by 2030.
  • Investments in the renewable energy sector have totaled ₹8.5 lakh crore, with financial institutions pledging ₹25 lakh crore to support projects through 2030.
  • The Green Hydrogen Mission is highlighted as crucial for India's energy transition, with a target of 7.7 metric tonnes of green hydrogen and 15 GW of electrolyser capacity by 2030.
India's Ministry of New and Renewable Energy (MNRE) Secretary, Prashant Kumar Singh, announced at a conclave in New Delhi that India has witnessed a substantial increase in renewable energy capacity to nearly 210 GW from 76 GW in 2014. The country is on track to achieve its ambitious target of 500 GW by 2030, with a strong focus on dominating the power industry with renewable sources. Solar energy has particularly shown impressive growth, surging from 2.6 GW in 2014 to 91 GW in 2023, and expected to hit close to 300 GW by 2030. The solar module and cell manufacturing capacities have also seen significant expansions, indicating a positive trend in the sector. Investments totaling ₹8.5 lakh crore have been made in the renewable energy sector, with an additional ₹25 lakh crore pledged by financial institutions to support projects till 2030. The government's emphasis on initiatives like the Green Hydrogen Mission, aiming for 7.7 metric tonnes of green hydrogen production and 15 GW of electrolyser capacity by 2030, showcases a strong commitment to sustainable energy practices. The conclave highlighted the importance of collaboration between industry, policymakers, and stakeholders to drive India's energy transition and achieve its sustainable energy goals.
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