Rs 32.45 lakh crore investment pledged in renewables by 2030, says Pralhad Joshi

New Delhi: As India aspires to reach over 500 GW of renewable energy capacity by 2030, Union New & Renewable Energy Minister Pralhad Joshi on Tuesday said a total investment of Rs 32.45 lakh crore has been committed in renewable energy projects till 2030.

At the fourth Global Renewable Energy Investment Meet & Expo (RE-INVEST) held at Gandhinagar, Joshi told media that makers have committed to additional manufacturing capacity of 340 GW in solar modules, 240 GW in solar cells, 22 gigawatts in wind turbines and 10 gigawatts in electrolyzers.

The State governments have given 'Sankalp Patra' (commitment) of 540 GW, he said adding that over 7,000 people took part in the RE-Invest which is being organised by the Ministry of New & Renewable Energy in partnership with CII.

Highlighting the achievements of the Ministry of New & Renewable Energy during first 100 days of Modi 3.0, Joshi said that 6 GW renewable energy capacity was commissioned during June-August 2024 against the target of 4.5 GW.

With this capacity addition, the non-fossil fuel based installed generation capacity reached 207.76 GW, he stated.

During June-August 2024, the REIAs (renewable energy implementing agencies NTPC, SJVN, NHPC, SECI) issued RE power procurement bids for 14 GW against the target of 10 GW.

Joshi also said that two solar parks are completed and one lakh solar pumps have been installed under PM KUSUM. Under PM Surya Ghar Scheme, he stated that 3.56 lakh rooftop solar systems have been installed.

Cumulative 13.8 GW Solar Module production commenced in Solar PLI (production linked incentive) scheme, he said adding that under National Green Hydrogen Mission, 11 companies selected under second tranche for electrolyser manufacturing for a total capacity of 1,500 MW/annum..

Offshore wind scheme approved by the Union Cabinet on June 19, 2024, he said adding that the RFS (request for selection) were issued by SECI (Solar Energy Corporation of India).