India is on a transformative path to becoming the world’s renewable energy capital, according to Union Minister for New and Renewable Energy, Shri Pralhad Joshi. Speaking at the 5th CII International Energy Conference and Exhibition (IECE) in New Delhi, the Minister highlighted the country’s impressive strides in clean energy under the visionary leadership of Prime Minister Shri Narendra Modi.
Addressing an audience of industry leaders, policymakers, and energy experts, Minister Joshi underscored India’s role as a key global player in renewable energy. He remarked that India’s progress in this domain is being closely observed and adopted by other nations, further solidifying its status as a clean energy trailblazer. The International Solar Alliance (ISA), an initiative spearheaded by India, has already brought together 120 countries, promoting collaboration and advancements in solar energy.
Highlighting significant achievements, Shri Joshi revealed that India added close to 15 GW of renewable energy capacity between April and November of the current fiscal year—nearly double the 7.54 GW installed during the same period last year. In November 2024 alone, India achieved a remarkable four-fold increase, adding 2.3 GW compared to 566 MW in November 2023. India’s total installed renewable energy capacity now stands at 214 GW, reflecting a 14% year-on-year growth.
The Minister reiterated the government’s unwavering commitment to achieving 500 GW of non-fossil fuel capacity by 2030. Despite being home to significant coal resources, India maintains per capita emissions that are one-third of the global average. Shri Joshi emphasized that India is the only G20 nation to fulfill its Paris Agreement Sustainable Development Goals (SDGs) ahead of schedule. He asserted that transitioning to green energy is vital for achieving “Viksit Bharat” (Developed India) by 2047.
To further accelerate the renewable energy sector, Shri Joshi outlined various initiatives undertaken by the government. These include the Production-Linked Incentive (PLI) scheme with an outlay of ₹24,000 crore to bolster domestic solar panel and module manufacturing. Plans to establish 50 solar parks with a combined capacity of 38 GW by 2025-26 are also in progress.
The government has also declared a Renewable Purchase Obligation (RPO) trajectory up to 2029-30. Additionally, the PM Surya Ghar Muft Bijli Yojana aims to install 1 crore rooftop solar units by 2026-27, with a financial commitment of ₹75,021 crore.
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Looking ahead, the Ministry of New and Renewable Energy (MNRE) has lined up events such as REInvest in September 2024 and a Chintan Shivir in November 2024 to address sectoral challenges and drive growth. A meeting involving banks, industry leaders, and state government representatives is also planned for January 2025 in Mumbai to resolve bottlenecks in the renewable energy landscape.
During the event, Minister Joshi launched the CII-EY Energy Transition Investment Monitor Report, which highlights key trends in India’s energy transition. The conference, themed “Global Dialogue on Energy Transformation,” served as a platform for international collaboration, emphasizing India’s readiness to lead the world toward a sustainable and green energy future.
The Minister concluded by inviting global stakeholders to partner with India in achieving its renewable energy goals, reinforcing the country’s commitment to a cleaner and sustainable tomorrow.