India’s installed solar capacity reaches 85.47 GW, wind 46.65 GW: Minister

New Delhi, August 6 (IANS): The government said on Tuesday that the total installed capacity of photovoltaic (PV) power plants in the country stands at 85.47 gigawatts (GW) and wind power plants at 46.65 GW.

The Centre has undertaken a number of activities and initiatives aimed at promoting the development of renewable energy (RES), including solar and wind energy.

According to Shripad Yesso Naik, Minister of State for New and Renewable Energy, these measures directly or indirectly motivate companies to use more renewable energy rather than energy from conventional coal-fired thermal power plants.

The minister informed the State Council that the country aims to achieve 500 GW of installed electricity capacity from non-fossil fuel sources by 2030. To achieve this goal, the central government has allowed foreign direct investment (FDI) of up to 100 percent under the automatic route.

The Ministry of New and Renewable Energy has also waived interstate sales fees for solar and wind power for projects coming online by June 30, 2025, green hydrogen fees until December 2030 and offshore wind fees until December 2032.

“To increase renewable energy consumption, a renewable energy purchase obligation (RPO) trajectory has been announced till 2029-30, including a separate RPO for decentralised renewable energy,” the minister said. A project development unit has also been set up to attract and facilitate investments.

There are other schemes like Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM-KUSUM), PM Surya Ghar Muft Bijli Yojana, National High Efficiency Photovoltaic Modules Programme, National Green Hydrogen Mission and development of 1 GW of offshore wind projects etc.

According to the Economic Survey 2023-2024, India has a well-developed infrastructure to attract foreign direct investment in sectors such as greenfield projects and renewable energy sources.

Leading US and European renewable energy companies such as First Solar, Vesta and Scatec have set up operations in India to benefit from the growing demand for green technologies.

According to experts, the Union budget will put India on the path of sustainable development.

Climate and energy experts said the budget highlights several key initiatives such as energy transition pathways, climate finance, improving water resource management, and measures related to irrigation and flood management that will help India combat the impacts of climate change.