Renewable Energy projects worth around USD 197 billion underway in India: Union minister Bhagwant Khuba – EQ Mag Pro
New Delhi: Union Minister of State for New and Renewable Energy Bhagwant Khuba has invited international buyers to take a position in India’s clear vitality business, stressing that projects worth around USD 196.98 billion are underway in the sector.
Addressing buyers at a convention in Munich, Germany, Khuba mentioned India affords a terrific alternative for investments.
“Currently around USD 196.98 billion worth of projects are underway in India. I once again invite all the developed countries and major RE (renewable energy) players to utilise the opportunity India is offering to the world,” he mentioned.
Khuba delivered the keynote handle at ‘Intersolar Europe 2022’ on “India’s Solar Energy Market”.
He mentioned beneath Prime Minister Narendra Modi‘s bold Panchamrit targets set throughout COP26, India is all set to realize internet zero by 2070 and set up 500 GW of non-fossil gas capability by 2030.
The minister additional mentioned India’s huge renewable vitality useful resource potential and powerful coverage backing present a powerful basis for reaching these objectives.
He identified that India has seen unbelievable progress of RE capability in the final seven years and has achieved the goal of 40 per cent cumulative electrical capability from non-fossil fuels in 2021, a full 9 years forward of the goal of 2030.
Government of India is dedicated to selling home manufacturing in the photo voltaic photovoltaic (PV) sector to realize its bold deployment objectives. Several coverage measures have been undertaken to assist the home PV manufacturing sector.
The minister additionally emphasised that India is dedicated to growing home manufacturing of high-efficiency photo voltaic PV modules for which complete finances outlay of Rs 24,000 crore has been made.
Further, to advertise inexperienced hydrogen economic system, India has estimated an outlay of Rs 25,425 crore.
The Green Hydrogen Mission eyes producing 4.1 million tonnes of inexperienced hydrogen yearly.