Khuba says $196.89bn RE projects underway
India is committed to increase domestic manufacturing of high efficiency Solar PV modules for which Rs.24,000 crore is required while estimated Rs.25,425 crore is needed to promote green hydrogen economy, Minister of State for Ministry of New and Renewable Energy Bhagwant Khuba said at the Intersolar Europe 2022 held in Munich.
“The Green Hydrogen Mission is expected to generate 4.1 million tonnes of annual Green Hydrogen production,” he said in a keynote address at the investment promotion event on “India’s Solar Energy Market”.
“Further India offers a great opportunity for investments. Currently around US$196.98 billion worth of projects are underway in India.
“I once again invite all the developed countries and major RE players to utilise the opportunity India is offering to the world,” said Khuba.
“India is all set to achieve net zero by 2070 and install 500GW of non-fossil by 2030,” he underlined.
Khuba said that India’s vast renewable energy resource potential and strong policy backing provide a strong foundation for achieving these goals.
He pointed out that India has seen incredible growth of RE capacity in last 7 years and has achieved target of 40% cumulative electric capacity from non-fossil fuel in 2021, nine years ahead of set target of 2030.
The Government is committed to promoting domestic manufacturing in the solar PV sector to achieve its ambitious deployment goals, he assured.
Several policy measures have been undertaken to support the domestic PV manufacturing sector, Khuba added in a release on 13 May 2022.
The Intersolar Europe was held 11-13 May 2022. The fiinews.com
