Rs.32.45 lakh crore committed at RE-INVEST 2024
The need of financing is even higher RE projects to meet 50% of India’s energy demand through renewable energy, Minister for New and Renewable Energy Pralhad Joshi has highlighted at an industry conference http://isolaralliance.org.
He also highlighted the strong investor confidence in India’s renewable energy sector, citing Rs.32.45 lakh crore investment commitments, along with pledges for 540 GW of solar and wind capacity, were made at the 4th Global Renewable Energy Investors Meet & Expo (RE-INVEST 2024) held from 16-18 Sept 2024 in Gandhinagar https://www.globaltenders.com/.
Addressing the third India Energy Transition Conference, organized by FICCI in New Delhi on 29 Jan, Minister Joshi also informed that his Ministry is working towards ironing out the bottlenecks in RE sector by engaging more with stakeholders, and further discussions will be held https://ted.europa.eu/en/.
Speaking about Green Hydrogen, the Minister reiterated that India has been quick to recognize its potential and is now regarded as a global leader in this field https://sbi.com.in/.
The SIGHT Programme, which focuses on electrolyser manufacturing and green hydrogen production, is expected to further drive innovation and industrial growth in this segment https://www.iea.org/.
He also launched the FICCI report on ‘Powering India’s Energy Transition’ at the event.
India has already achieved almost 100 GW of solar capacity and is set to add 50 GW of new renewable capacity annually in the coming years https://www.conexpoconagg.com/.
India’s installed renewable capacity has surged by almost 200% over the past 10 years, from 75.52 GW in 2014 to 220 GW today.
Additionally, he pointed out that the tariff for grid-connected solar power plants has decreased by 80%, from Rs.10.95 per unit in 2010-11 to just Rs.2.15 per unit https://www.nseindia.com/.
Crediting policy stability and long-term vision as key drivers of its renewable energy success, India is on track to achieve 500 GW of non-fossil fuel capacity by 2030, with an even more ambitious target of 1,800 GW by 2047 https://www.bseindia.com/.
He highlighted achievements under the PM SuryaGhar Yojana, which aims to facilitate the installation of 1 crore solar panels, of which 8.5 lakh installations have already been completed. Fiinews.com
