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India’s renewable energy capacity seen rising to 500 GW by 2030

India’s renewable energy capacity seen rising to 500 GW by 2030

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India aims to set up 500 GW of renewable energy generation capacity by 2030, Aanand Kumar, Secretary, ministry of new and renewable energy, has said.

He said, India expects to achieve a renewable energy capacity target of 260 giga Watt (GW) by 2024, as the country sees rapid growth in renewable capacity backed by government orders, private equity and pension fund investments.

“India would have installed 175 GW of RE capacity by 2022, without taking into account large hydro and 225 GW including large hydro. By 2030, India plans to establish 500 GW of renewable energy capacity,” Kumar said at the 17th meeting of the International Renewable Energy Agency (IRENA) Council.

Kumar said fighting against climate change and adoption of renewable energy is a matter of faith and commitment for India. Kumar suggested that IRENA should work to enhance capacity of RE institutions in member countries and focus on innovation and new areas like hydrogen as energy carrier, storage.

India’s renewable power capacity soared by almost 150 per cent in the last five years to 77.6 GW, while the government set a target of 175 GW by 2022.

India is also formulating a policy to build a 30 GW local capacity for manufacturing solar cells and modules by 2024, Anand Kumar, secretary to the ministry of new and renewable energy, he said.

Source: domain-b
Anand Gupta Editor - EQ Int'l Media Network