Indian Govt eyes 500 GW Renewable Capacity by 2030

The plans were revealed by Ministry Of New and Renewable Energy Secretary, Anand Kumar, on 26th June 2019 at the 17th meeting of the International Renewable Energy Agency (IRENA) council in Abu Dhabi

India on Tuesday announced an ambitious aim to set up 500 gigawatts (GW) of renewable energy capacity by 2030 in what could potentially help the country reshape the global energy market dynamics. The announcement comes against the backdrop of the National Democratic Alliance (NDA) government running the world’s largest renewable energy programme and plans to achieve 175 GW of renewable energy capacity by 2022 as part of its climate commitments. India currently has an installed renewable energy capacity of around 80 GW. Of the targeted 175 GW, 100 GW is to come from solar projects. It will comprise 60 GW from ground-mounted, grid-connected projects, and 40 GW from solar rooftop projects. Wind power projects will contribute 60 GW. There has been growing interest in India’s emerging green energy sector. Earlier in June, sovereign wealth funds GIC Holdings Pte Ltd and Abu Dhabi Investment Authority agreed to invest $495 million in Greenko Energy Holdings, in one of the largest funding rounds by an Indian clean energy producer.

Source : https://bit.ly/2Lifv5J