India on path to triple renewable energy capacity by 2030 but faces financing hurdle: Report – EQ
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In Short : According to a recent report, India is on track to triple its renewable energy capacity by 2030. The country has set a goal of achieving 450 gigawatts (GW) of renewable energy by that year, which includes 280 GW of solar power, 140 GW of wind power, and 30 GW of biomass and hydro energy.
In Detail : New Delhi : India’s 14th National Electricity Plan (NEP) sets it on a path to more than triple its renewable energy capacity by 2030, but the country needs a whopping USD 293 billion to achieve this, according to a report released by global energy think tank Ember on Wednesday.
The International Energy Agency (IEA) says the world must triple its renewable energy capacity and double energy efficiency by 2030 to decrease the need for fossil fuels and limit global warming to 1.5 degrees Celsius by the end of the century.
Led by the US, the European Union (EU), and the UAE, over 60 countries now support the commitment to triple renewable energy and double energy efficiency.
