India Eyes Rs 30 Lakh Crore Investment to Achieve 500 GW Renewable Energy by 2030

Union Minister Pralhad Joshi announced the need for Rs 30 lakh crore investment to meet India's target of 500 GW renewable energy capacity by 2030. During a Rajya Sabha session, he highlighted the government's commitment shown by doubling the budget to Rs 20,000 crore and emphasized India's improved global renewable energy standing.

India will require an investment of up to Rs 30 lakh crore to achieve its goal of 500 GW renewable energy capacity by 2030, Union Minister Pralhad Joshi disclosed in the Rajya Sabha on Tuesday.

Minister Joshi emphasized the Modi-led government's dedication to renewable energy, evidenced by a doubling of the budgetary allocation to over Rs 20,000 crore this year. He noted substantial past investments totaling around Rs 7 lakh crore in the last decade.

In stark contrast, Joshi criticized the previous administration's investment, mentioning that between 2004 and 2014, only Rs 3 lakh crore was invested. Despite opposition challenges, Joshi remained optimistic, citing India's rise to 4th globally in installed renewable capacity.