India on track to achieve 500 GW renewable energy target by 2030

Representational Pic

India is making significant progress towards its ambitious target of 500 gigawatts (GW) of renewable energy capacity by 2030, according to the Minister of New and Renewable Energy, Pralhad Joshi, speaking at the International Solar Alliance (ISA) event held at Bharat Mandapam, New Delhi, on Monday.

Joshi highlighted that India reached a notable milestone last month with an installed solar capacity of 90 GW, reaffirming the country's commitment to a broader goal of achieving 500 GW of renewable energy capacity by 2030. He also mentioned that India is looking to produce 5 million metric tons of green hydrogen by the same year as part of its strategy for a sustainable energy future.

In his address, Joshi announced the approval of 50 solar parks, which collectively will contribute nearly 37.5 GW to the country's energy capacity. He also pointed out the identification of potential offshore wind energy sites to achieve a target of 30 GW in that sector.

A key focus of Joshi's speech was the ISA's "1000 Strategy," which aims to mobilize $1,000 billion in investments for solar energy solutions by 2030. This strategy envisions providing energy access to 1,000 million people, installing 1,000 GW of solar energy capacity, and mitigating the emission of 1,000 metric tons of carbon dioxide annually.

He praised India's solar rooftop initiatives, calling them among the best globally, as they empower communities to harness their own renewable energy.

As he spoke on the importance of collaboration, Joshi urged governments, international organisations, private sectors, and civil society to work together to accelerate the solar revolution.

India's renewable energy efforts align with Prime Minister Narendra Modi's vision for sustainable growth, positioning the country as a leader in renewable energy innovation. Joshi noted, "This cost-effectiveness is fuelling a global surge in solar ambitions, and it fills me with immense pride to see India advancing its renewable energy capabilities."

He emphasised that India's journey reflects a bold vision and relentless progress under Modi's leadership. "With these initiatives, India is not just contributing to a global energy transition but is also setting a benchmark for sustainable growth," he added.

The ISA, a coalition of 120 member countries, has successfully completed 21 out of 27 demonstration projects, showcasing its effectiveness in mobilising resources and advancing solar energy initiatives globally, particularly in developing nations.

(With inputs from ANI)