India’s ambitious renewable energy plans: 500 GW target by 2030

India is set to allocate up to Rs 30 lakh crore to achieve 500 GW of renewable energy capacity by 2030, Union Minister Pralhad Joshi revealed in the Rajya Sabha. Underlining the Modi administration’s prioritisation of renewable energy, Joshi noted that this year’s budget for renewable energy projects has more than doubled to over Rs 20,000 crore.

In his speech, Joshi detailed the country’s significant progress in investment in renewable energy, from Rs 7 lakh crore in the last decade to an expected Rs 30 lakh crore to achieve the 2030 target. The minister also noted the limited investment by the Congress party in renewable energy between 2004 and 2014.

Despite the progress, opposition members questioned the feasibility of increasing renewable capacity from 200 GW to 500 GW in less than a decade. Joshi responded with confidence, citing India’s progress in solar and wind power and highlighting ongoing policy reforms and incentives to support growth in the sector.

(Based on information from the agency.)