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

Union New & Renewable Energy Minister Pralhad Joshi announced that India requires Rs 30 lakh crore to achieve a target of 500GW renewable energy by 2030. Prime Minister Modi will inaugurate the 4th RE-INVEST 2024 in Gujarat. The event will explore key trends and technologies in renewable energy.

Union New & Renewable Energy Minister Pralhad Joshi on Monday announced that India requires a significant investment of Rs 30 lakh crore to meet its ambitious target of 500 GW of renewable energy by 2030.

Prime Minister Narendra Modi will inaugurate the 4th edition of RE-INVEST, a global summit for renewable energy, scheduled for September 16-18, 2024, at the Mahatma Mandir Convention & Exhibition Centre in Gandhinagar, Gujarat. This edition marks the first time the event will be held in Gujarat, chosen due to its prominence in renewable energy initiatives, similar to the Vibrant Gujarat summit.

The minister revealed that India currently has 203 GW of renewable energy capacity and underscored the necessity of substantial investment and innovation to meet the 2030 target. The conference will feature around 40 sessions, including a Chief Ministerial Plenary, a CEO Roundtable, and sessions focused on startups and emerging technologies in the renewable sector. Globally recognized as a premier platform, RE-INVEST will bring together government officials, industry leaders, investors, researchers, and policymakers to showcase the latest advancements and solutions in renewable energy.

(With inputs from agencies.)