Union Minister R K Singh revealed in a session of the Rajya Sabha on Tuesday that India is well on its way to achieving its ambitious goal of having 50 percent of its installed power generation capacity sourced from non-fossil fuel options by the year 2030.
As of the latest data, the country’s installed power generation capacity from non-fossil sources stands at 186.46 Gigawatts (GW), which accounts for 43.82 percent of the total installed capacity. Minister Singh, who oversees the Ministry of New and Renewable Energy and holds the portfolio of Power Minister, expressed confidence in India’s progress towards this target.
Of the total non-fossil capacity, a substantial 178.98 GW is attributed to renewable energy sources, while 7.48 GW is generated from nuclear power. Additionally, there are 114.08 GW of capacity currently in the implementation phase, and 55.13 GW under tendering.
Remarkably, the share of non-fossil electricity capacity has surged from 32.54 percent in March 2014 to the current 43.82 percent in October 2023, reflecting significant growth in India’s renewable energy sector.
Minister Singh also highlighted several measures taken by the government to promote renewable energy in the country. These include allowing foreign direct investment (FDI) up to 100 percent under the automatic route and waiving inter-state transmission system (ISTS) charges for inter-state sale of solar and wind power projects set to be commissioned by June 30, 2025.
Furthermore, initiatives such as the establishment of ultra mega renewable energy parks, the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM-KUSUM), Solar Rooftop Phase II, and the 12000 MW CPSU Scheme Phase II have been undertaken to facilitate large-scale installation of renewable energy projects.
In addition to these efforts, the government has introduced production-linked incentive schemes under the “National Programme on High Efficiency Solar PV Modules” and the “Green Energy Corridor Scheme for Intra-State Transmission System” to further drive the adoption of renewable energy sources.
Since 2014, the government has sanctioned a total of 50 solar parks with a combined capacity of 37,490 MW in 12 states across the country through the Solar Parks Scheme. These parks have already witnessed the establishment of solar projects with a total capacity of 10,237 MW.
India’s steadfast commitment to increasing its non-fossil fuel power generation capacity signifies significant progress towards a more sustainable energy future.Be a part of Elets Collaborative Initiatives. Join Us for Upcoming Events and explore business opportunities. Like us on Facebook , connect with us on LinkedIn and follow us on Twitter , Instagram.