Pralhad Joshi appointed as Minister of New and Renewable Energy. What’s in store for the sector?
In Short – With Pralhad Joshi appointed as the Minister of New and Renewable Energy, the sector is poised for strategic growth. His leadership is expected to bolster policy support, enhance investment in green technologies, and accelerate renewable energy projects. Key areas of focus will likely include expanding solar and wind capacities, promoting green hydrogen, and driving innovations in sustainable energy solutions to achieve India’s renewable energy targets.
In Details – In the second-term under PM Modi, Joshi was leading the coal ministry which has now been given to Kishan Reddy. Meanwhile, power ministry would be run by the former Haryana chief minister ML Khattar under the NDA government. Pralhad Joshi has been appointed as the Minister of New and Renewable Energy (MNRE) under PM Modi’s third term. Joshi would also be at the helm of the consumer affairs, food and public distribution ministry. In the second term under PM Modi, Joshi was leading the coal ministry which has now been given to Kishan Reddy. Meanwhile, the power ministry would be run by the former Haryana chief minister ML Khattar under the NDA government. To be sure, the government has different ministries for power and renewable energy sector.
On June 9, Modi took oath as the Prime Minister of India for the third consecutive term. Besides Modi, 71 council of ministers also took oaths including 30 cabinet ministers, five ministers of state with independent charge and 36 minister of state. Pralhad Joshi has been appointed as the Minister of New and Renewable Energy (MNRE) under PM Modi’s third term. Joshi would also be at the helm of the consumer affairs, food and public distribution ministry. In the second term under PM Modi, Joshi was leading the coal ministry which has now been given to Kishan Reddy. Meanwhile, the power ministry would be run by the former Haryana chief minister ML Khattar under the NDA government. To be sure, the government has different ministries for power and renewable energy sector.
Modi took oath as the Prime Minister of India for the third consecutive term. Besides Modi, 71 council of ministers also took oaths including 30 cabinet ministers, five ministers of state with independent charge and 36 minister of state.Under Joshi’s leadership, the government opened the coal sector to commercial mining in 2020, breaking Coal India Limited’s long-standing monopoly. This move aimed to boost domestic production, reduce imports, and foster competition. He also oversaw amendments to the Mines and Minerals (Development and Regulation) Act, 2021, simplifying the auction process and enabling the transfer of statutory clearances.
Setting the agenda
Under the new government, the ministry of new and renewable energy is expected to focus on increased use of renewable sources of energy including solar, wind and green hydrogen. The previous had launched the National Green Hydrogen Mission (NGHM) in January 2023 with a total initial outlay of Rs 19,744 crore. The Ministry of New and Renewable Energy (MNRE) has been given the responsibility to formulate the scheme guidelines. Of the total amount allocated by the government, Rs 17,490 crore has been earmarked for incentives on the production of green hydrogen and manufacturing of electrolysers, while Rs 1,466 crore would be for pilot projects, Rs 400 crore for research and development (R&D), and Rs 388 crore towards other mission components.
The mission states that India will develop a green hydrogen production capacity of at least 5 MTPA with an associated renewable energy capacity addition of about 125 gigawatts (GW) in the country by 2030. The new government is also expected to provide incentives for large-scale battery storage systems, green hydrogen and manufacturing for the renewable energy sector.
