India to Establish Task Force for Achieving 500 GW Renewable Energy Target by 2030

The Minister called for early finalization of Power Purchase Agreements (PPAs) and strict enforcement of Renewable Purchase Obligations (RPOs).

The Union Minister for New and Renewable Energy, Shri Pralhad Joshi, announced the formation of a dedicated task force to achieve India’s ambitious renewable energy (RE) goal of 500 GW by 2030. The announcement came during the valedictory session of the two-day Chintan Shivir held in Bhubaneswar, Odisha, organized by the Ministry of New and Renewable Energy (MNRE).

This task force, set up in collaboration with the Ministry of Power, will engage stakeholders across industries, states, and public sector undertakings (PSUs) to address challenges in the RE sector. Key Highlights of the Event

Scaling Renewable Energy: A Collaborative Effort

Minister Joshi underscored the necessity of installing 288 GW of renewable energy capacity over the next six years, which will require an estimated investment of ₹42 lakh crore, including transmission infrastructure development. Addressing 117 industry leaders, 67 state and PSU representatives, and delegates from 12 major renewable energy-producing states, he called for unified efforts to overcome sectoral challenges.

“We leave this Shivir with a stronger sense of purpose and a refined roadmap for India’s renewable energy future,” said the Minister, reaffirming India’s commitment to the “Panchamrit” goals announced by Prime Minister Narendra Modi.

Initiatives for Innovation and Development

To foster innovation and technological advancements, MNRE will:

Launch Hackathons for Startups: Providing assured offtake to support the indigenization of RE technologies.

Establish a Joint Centre of Excellence for R&D: In partnership with the Ministry of Power, to develop cutting-edge solutions for the RE sector.

Odisha: A Hub for Renewable Energy

Highlighting Odisha’s vast renewable energy potential, Minister Joshi noted:

140 GW Solar Capacity: With potential for floating solar panels on reservoirs and other water bodies.

Green Hydrogen Opportunities: Leveraging the state’s coastline and port infrastructure for large-scale hydrogen production.

Manufacturing Investments:

A 6,000 MW solar module, cell, and ingot-wafer production capacity in Dhenkanal, with an investment of ₹9,000 crore.

A 1,000 MW solar module and cell manufacturing facility at Infovalley-II, Bhubaneswar, worth ₹730 crore.

Policy and Implementation Focus

The Minister called for early finalization of Power Purchase Agreements (PPAs) and strict enforcement of Renewable Purchase Obligations (RPOs). Additionally, the Centre is exploring the expansion of the Production Linked Incentive (PLI) scheme for solar module and cell manufacturing to boost domestic production.

PM Surya Ghar Yojana Progress

Minister Joshi announced that the PM Surya Ghar Yojana will achieve over 5 lakh rooftop solar installations by November 2024, reflecting the government’s commitment to decentralized energy solutions.

Event Highlights

The Chintan Shivir featured 17 in-depth sessions addressing critical challenges in areas such as solar and wind deployment, green hydrogen development, energy storage, and transmission planning. Participants included top decision-makers, industrialists, financial institutions, and key officials from central and state governments.

Deputy Chief Minister of Odisha, Shri Kanak Vardhan Singh Deo, pledged the state’s support for the Panchamrit targets, while MNRE Secretary Shri Prashant Kumar Singh emphasized the importance of inter-ministerial coordination to drive progress in the RE sector.

Principal Energy Secretary of Odisha, Shri Vishal Kumar Dev, also outlined Odisha’s strategic initiatives, positioning the state as a significant contributor to India’s renewable energy ambitions.

The Chintan Shivir concluded with cultural performances and a renewed commitment to achieving a cleaner, greener future for India. The event marked a critical step in mobilizing resources and aligning stakeholders to achieve the 2030 target of 500 GW renewable energy capacity, reinforcing India’s leadership in the global transition to clean energy.