India Seeks Rs 30 Lakh Crore Investment for 500 GW Renewable Energy Goal by 2030

India requires Rs 30 lakh crore to achieve its 500 GW renewable energy target by 2030, Union Minister Pralhad Joshi announced. The investment goal will be a key focus at the RE-INVEST 2024 summit in Gujarat, which aims to foster international collaboration in the renewable energy sector.

Gandhinagar (Gujarat) [India] September 9 (ANI) – India needs an investment of Rs 30 lakh crore to achieve its goal of generating 500 GW of renewable energy by 2030, according to Union Minister for New and Renewable Energy Pralhad Joshi. He made these remarks during a press conference ahead of the RE-INVEST 2024 summit, scheduled to be inaugurated by Prime Minister Narendra Modi on September 16.

The summit aims to secure the necessary investment to meet the renewable energy target. 'India requires an investment of Rs 30 lakh crore to achieve its target of 500 GW of renewable energy by 2030,' Joshi told reporters. This will be the first time the summit is held in Gujarat. 'Gujarat is the right place to organise the conference,' he added, highlighting the state's successful Vibrant Gujarat initiative. Currently, India has a renewable energy capacity of 203 GW.

Organised by the Ministry of New and Renewable Energy (MNRE), the event will host around 40 sessions, including a Chief Ministerial Plenary, a CEO Roundtable, and several state, country, and technical sessions. Through these discussions, the summit aims to foster global collaboration, drive investment, and inspire innovation in the renewable energy sector. Approximately 25,000 delegates, including energy ministers, investors, policymakers, and industry experts, are expected to attend. The exhibition segment will feature over 200 exhibitors showcasing cutting-edge renewable energy technologies and solutions. Earlier in the day, Minister Joshi reviewed the event preparations and received briefings from officials.

(With inputs from agencies.)