India's Renewable Energy Surge: 430 GW Projects in Pipeline

Union New and Renewable Energy Minister Pralhad Joshi stated in the Lok Sabha that 200 GW of renewable energy is currently being produced, with projects to produce another 430 GW in progress. Efforts include significant financial investments and policy initiatives aimed at achieving 500 GW of non-fossil energy capacity by 2030.

In a significant development, Union New and Renewable Energy Minister Pralhad Joshi has revealed that over 200 gigawatts (GW) of renewable energy is currently being produced in India. Projects to produce an additional 430 GW are also underway.

The minister detailed various initiatives undertaken by the government to promote and accelerate renewable energy capacity. A staggering Rs 36,950 crore has been spent over the last decade, a 500% increase since the Modi government took charge in 2014.

Future plans include a budget of Rs 21,000 crore for renewable energy, with an aim to invest up to Rs 1.60 lakh crore in the coming years. Other incentives include complete waivers of inter-state transmission charges and up to 100% FDI for renewable energy projects.

(With inputs from agencies.)