India's Ambitious Renewable Vision: 1,800 GW by 2047

India targets 1,800 GW renewable energy capacity by 2047 under the 'Viksit Bharat@2047' initiative. Union Minister Pralhad Joshi outlines this goal at the India Energy Transit Summit, envisioning a significant leap from the 2030 target of 500 GW. Financial backing plans are also detailed.

India has set an ambitious renewable energy target of 1,800 GW capacity by 2047, aligning with the 'Viksit Bharat@2047' vision. Union Minister Pralhad Joshi revealed this plan at the India Energy Transit Summit, underscoring a long-term commitment beyond the 500 GW goal set for 2030.

Under the leadership of Prime Minister Narendra Modi, the government aims for a transformative energy shift, ensuring the 2030 renewable capacity milestone is met as a precursor to the larger 2047 target. The renewable energy capacity has already seen a remarkable 200% increase since 2014.

Financial requirements and contributions are crucial, with the Financial Services Secretary M Nagaraju indicating that public sector banks could provide significant financing. However, achieving the 2030 goal needs Rs 33 lakh crore, with a substantial portion expected from non-government institutions.

(With inputs from agencies.)