India Sets Sights on Being the Global Hub for Renewable Energy
- Muhammad Ahmad
- Dec 17, 2024
- 2 min read
India's remarkable growth in renewable energy paves the way for global leadership in sustainability
Union Minister Pralhad Joshi emphasizes India’s growing leadership in clean energy
India added nearly 15 GW of renewable energy capacity in just eight months.
The government is committed to achieving 500 GW of non-fossil fuel-based capacity by 2030.
Key initiatives like PLI scheme and solar parks are accelerating growth in the RE sector.
Union Minister for New and Renewable Energy, Shri Pralhad Joshi, addressed the 5th CII International Energy Conference and Exhibition (IECE) in New Delhi, announcing that India is on track to become the world's renewable energy capital. He highlighted the significant growth in India’s renewable energy sector, which is set to revolutionize the global clean energy landscape under the leadership of Prime Minister Narendra Modi.
The Minister pointed out that India has already added nearly 15 GW of renewable energy capacity between April and November 2024, almost doubling the 7.54 GW added during the same period in 2023. India’s non-fossil fuel energy capacity has surged to 214 GW, reflecting a 14% increase compared to the previous year. Furthermore, the country added 2.3 GW of new capacity in November 2024, a dramatic four-fold increase from 2023.
Technical Focus
India’s renewable energy market is one of the fastest-growing globally. With the government targeting 500 GW of non-fossil fuel capacity by 2030, the country is rapidly expanding its infrastructure. The introduction of the ₹24,000 crore Production-Linked Incentive (PLI) scheme and the development of 50 solar parks with a cumulative capacity of 38 GW by 2025-26 are pivotal to this expansion.
Minister Joshi also discussed several initiatives to boost further the renewable energy sector, such as the PM Surya Ghar Muft Bijli Yojana, which aims to install 1 crore solar systems by 2026-27, with an outlay of ₹75,021 crore. He added that the government is taking decisive steps to address challenges in the RE sector, including organizing meetings with industry leaders and state officials to resolve existing bottlenecks.
In his concluding remarks, Minister Joshi invited global leaders and stakeholders to partner with India in its transition to a green, sustainable future. At the event, he also launched the CII-EY Energy Transition Investment Monitor Report, underscoring India’s commitment to leading the energy transformation on a global scale.