India adds 15 GW renewable capacity in April-November, aims at 500 GW by 2030

India doubled its renewable energy capacity addition to 15 GW during April-November 2024-25 compared to the similar period of the previous fiscal, and has now raised its 2030 target to 500 GW.

Minister for new and renewable energy Pralhad Joshi said this while addressing the CII International Energy Conference and Exhibition 2024, in New Delhi, on Tuesday.

During April-November this fiscal, India commissioned about 15 GW of renewable energy capacity, against the 7.54 GW added during April-November last fiscal, Joshi pointed out.

India's total installed renewable power capacity has reached 214 GW, and the government is committed to achieving the goal of 500 GW of non-fossil fuel-based generation capacity by 2030, he said.

Joshi said green and sustainable growth is closely linked to the goal of becoming `Viksit Bharat’ by 2047, adding that the transition now looks nearer.

In fact, the minister pointed out that thesre has been a four-fold increases in renewable capacity addition in the country with the addition of 2.5 GW capacity in November this year against c566.06 MW capacity added in November 2-23.

The renewable energy sector in the country attracted foreign direct investment (FDI) $6.1 billion during the last three financial years alone, Joshi said.

He also pointed to the Rs24,000-crore production-linked incentive (PLI) scheme to support domestic production of solar panels and modules to substantiate his claim.

He said the government is in the process of setting up 50 solar parks with a cumulative capacity of 38 GW by 2025-26.

Besides, the government under the PM Surya Ghar Muft Bijli Yojana, is offering households free installation of roof-top solar power generation capacity, thereby providing electricity free of cost to households.

Referring to the Green Hydrogen Mission, he said the government is promoting local production of electrolysers under SIGHT programme of the National Green Hydrogen Mission with Rs4,000 crore funding programme. The government is also offering Rs13,050 crore support for green hydrogen production, he added.

Joshi also unveiled a CII report on 'Energy Transition for Viksit Bharat 2047'. Developed in collaboration with EY.