India's Bold Renewable Energy Goals: Rs 32.45 Lakh Crore Investment Pledged

Union New & Renewable Energy Minister Pralhad Joshi announced a massive Rs 32.45 lakh crore investment in renewable energy projects by 2030. The goal is to achieve over 500 GW of renewable capacity. The fourth Global Renewable Energy Investment Meet & Expo saw commitments and discussions with both national and international stakeholders.

In a landmark announcement, Union New & Renewable Energy Minister Pralhad Joshi revealed on Tuesday that India has secured Rs 32.45 lakh crore in investments for renewable energy projects, aimed for completion by 2030.

This monumental investment is part of India's broader initiative to surpass 500 GW of renewable energy capacity by the stated timeline.

Speaking at the fourth Global Renewable Energy Investment Meet & Expo (RE-INVEST), Joshi highlighted ambitious commitments from state governments amounting to 520 GW.

The event, organized by the Ministry of New & Renewable Energy in partnership with CII, saw participation from over 7,000 people, including 250 diplomats and international organizations, as well as 100 companies. More than 500 meetings took place among businesses exploring renewable energy potential in India, alongside 90 meetings between government and businesses on financial and supply chain issues.

Joshi also mentioned advancements in collaboration with German and Danish officials for renewable energy, including the launch of an Indo-German financing platform.

Additionally, significant progress was reported in Ministry's first 100 days of Modi 3.0, with 6 GW added to renewable energy capacity and substantial procurement bids issued by renewable energy implementing agencies.

Key achievements include the completion of solar parks, installation of solar pumps, and advancements under the National Green Hydrogen Mission.

(With inputs from agencies.)