Promonique
Promonique
Rayzon
Rayzon
EPR Subscription Banner
EPR Subscription Banner
Home » News » India to achieve 500 GW of RE capacity by 2030 with ₹30 lakh cr investment: Minister Joshi

India to achieve 500 GW of RE capacity by 2030 with ₹30 lakh cr investment: Minister Joshi

By August 7, 2024 6:15 pm IST

India to achieve 500 GW of RE capacity by 2030 with ₹30 lakh cr investment: Minister Joshi
.

The Power Minister emphasised that renewable energy is a major priority for the government, as reflected by the budget allocation for this sector being doubled to over ₹ 20,000 crore.

Achieving the country’s goal of 500 GW of renewable energy capacity by 2030 will likely require an investment of up to ₹ 30 lakh crore, Union Minister Pralhad Joshi stated in the Rajya Sabha on Tuesday. He emphasised that renewable energy is a major priority for Prime Minister Narendra Modi’s government, as reflected by the budget allocation for this sector being doubled this year to over ₹ 20,000 crore.

Joshi further said that the budget proposals would create employment opportunities in the renewable energy sector, reduce dependence on fossil fuels and mitigate climate change, enhance energy security and reduce carbon emissions, thereby promoting sustainable development. “We must seize this opportunity to transform India into a global leader in renewable energy,” he said.

Advertising

EPR Android App Banner

Since 2014, the country has increased the capacity of renewable energy by 165 percent — from 76.38 gigawatts (GW) in 2014 to 203.1 GW in 2024. “We have crossed 200 GW capacity from non-fossil fuel sources, that includes 85.47 GW of solar power, 46.93 GW of large hydro, 46.66 GW of wind power, 10.95 GW of bio power and 5 GW small hydro power,” he added.

Joshi further said, “The installed capacity of solar and wind power had increased and the share of thermal sources had come down. India has achieved fourth position globally in renewable energy installed capacity.”

Cookie Consent

We use cookies to personalize your experience. By continuing to visit this website you agree to our Terms & Conditions, Privacy Policy and Cookie Policy.

Android App
Android App

Events

RenewX
RenewX
Wiretech 2025
Wiretech 2025
Power Gen
Power Gen
India Green Energy Expo
India Green Energy Expo

Our Sponsors

Our Sponsors

Wika
Wika
Ramelex
Ramelex
Rayzon Solar Pvt Ltd
Rayzon Solar Pvt Ltd
Akansha
Akansha
Andritz Hydro Pvt Ltd
Andritz Hydro Pvt Ltd
Vyoma Switchgear
Vyoma Switchgear
Skipper Limited
Skipper Limited
Joint Well
Joint Well
Kp Group
Kp Group
Credence Solar
Credence Solar
Grew Solar
Grew Solar
Nirmal
Nirmal
Meco Instruments Pvt Ltd
Meco Instruments Pvt Ltd
Novasys
Novasys
HPL Electric Power
HPL Electric Power
Sun Bond
Sun Bond
Supremesolar
Supremesolar
Vsole Solar
Vsole Solar
Elev8 Lift
Elev8 Lift
Power trac Group
Power trac Group
Omicron
Omicron
Ganz Electric
Ganz Electric
Eplan
Eplan
Aeron Composite Pvt Ltd
Aeron Composite Pvt Ltd
Eaton
Eaton
A-1 ELECTRICALS
A-1 ELECTRICALS
Ashone Technologies
Ashone Technologies
MENNEKES Electric India
MENNEKES Electric India
PRAMA HIKVISION INDIA
PRAMA HIKVISION INDIA
Motwane Manufacturing
Motwane Manufacturing
Sun Cables
Sun Cables