Committed to achieve 50% of renewable power sources before 2030, says Secretary Ministry of new and renewable energy – EQ

In Short : The Secretary of the Ministry of New and Renewable Energy expresses commitment to achieving 50% renewable power sources before 2030. This underscores a proactive approach toward meeting sustainability goals and fostering a cleaner energy landscape in the coming decade.

In Detail : Out of the targeted 500 GW capacity from non-fossil sources, 485 GW is expected to come from renewable energy. The country’s renewable energy capacity has risen from 76 GW in 2014 to the current 180 GW, he stated.

India is targeting 50% of its total power capacity to be derived from renewable energy sources by 2030, a goal anticipated to be achieved earlier, said Bhupinder Singh Bhalla, secretary, ministry of new and renewable energy.

“Our share of renewable energy in total energy has increased substantially. Now it’s over 42% of India’s total energy capacity and that is significant,” the secretary said while speaking at the Vibrant Gujarat Global Summit.

Out of the targeted 500 GW capacity from non-fossil sources, 485 GW is expected to come from renewable energy. The country’s renewable energy capacity has risen from 76 GW in 2014 to the current 180 GW, he stated.

“We are committed to achieve 50% of the capacity by 2030 and we are on path to achieve that and we hope to do that much earlier than 2030,” he said adding that another 175 GW is under implementation.

Bhalla also acknowledged that the gap between the targeted total RE capacity and the cumulative existing and upcoming capacities needs to be covered. The renewable energy sector in the first half of the fiscal year, including high solar module prices and a 40% duty on imports from China.

But, lower solar module prices and government relaxations, such as extending the Approved List of Models and Manufacturers (ALMM) until March 2024, are expected to support the completion of delayed projects.

“Majority of it (RE capacity) will come on board. It may be a little delayed at some time but most of the projects are supposed to come online and we expect that to happen,” the secretary said.