Centre says India set to achieve 450 GW renewable energy installed capacity by 2030

New Delhi, October 12: In the latest development in India’s green energy push, the ministry of New and Renewable Energy informed that India is on track to achieve 450 GW - installed capacity from renewable energy by 2030.

It added that increased energy storage capacity will boost the Indian power system and allow large-scale integration of Renewable Energy into the system in the coming years.

Earlier this month, the MNRE in collaboration with the Federation of Indian Chambers of Commerce and Industry (FICCI) organized a series of events, from October 6 to 8, 2021 during the Climate and Biodiversity Week at Expo 2020 Dubai.

According to the official statement released by the Ministry of New and Renewable Energy, the events covered the themes of India's Renewable Energy Achievements and Ambitions, Emerging Areas and Opportunities for Renewable Energy in India, and also focussed events anchored by the Solar Energy Corporation of India (SECI) and Indian Renewable Energy Development Agency (IREDA).

Addressing the event on Monday, Union Minister for New and Renewable Energy RK Singh said, "India is already ahead of what we pledged in our Nationally Determined Contributions (NDCs). Already 39 percent of our installed capacity is from non-fossil-based sources. By 2022 we will reach our target of 40 percent." It should be noted that India has already installed 100 GW renewable energy capacity.

"We are launching the Green Corridor Phase 2 and we are generally expanding transmission to put in place systems for renewable power evacuation from sites where irradiation is high, or wind speed is high," he said further.

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Speaking on the opportunities for green hydrogen in India, Singh said that his ministry will work out with bids for electrolysers and that mandates for green hydrogen consumption in refining, fertilizer, piped natural gas. "India has embarked on an exciting journey and is treading where no one has ventured before, and SECI will continue to work towards meeting the ambition of 450 GW by 2030," the minister added.

The Narendra Modi government had set an initial target of installing 175 GW of renewable energy capacity, including wind, solar, and hydro, by 2022. It increased this target later to 450 GW by 2030.