changeadminHighlighting India’s focused push for a resilient and self-reliant renewable energy sector, Minister for New and Renewable Energy, Mr Pralhad Joshi, outlined five key priorities driving India’s clean energy transition.
This includes strengthened power purchase agreements (PPAs), robust grid and storage systems, domestic manufacturing, land-use optimisation, and enhanced access to finance.
Addressing the Mercom India Renewables Summit in New Delhi, the Minister said that these strategic reforms are propelling India towards its 2030 target of 500 GW non-fossil capacity. The summit is an exclusive event that brings together key stakeholders across the renewables sector.
The Minister Joshi informed that India has already crossed 50% of its installed power capacity from non-fossil sources, five years ahead of its Nationally Determined Contribution (NDC) timeline. The current installed renewable energy capacity exceeds 245 GW, with 116 GW solar and 52 GW wind.
The Minister cited the latest International Renewable Energy Agency (IRENA) study, noting that India’s renewable energy expansion in 2024 helped the country save nearly Rs 4 lakh crore (~$47 billion) by avoiding fossil fuel imports and pollution-related costs. This includes $14.9 billion in fossil fuel savings, 410.9 million tonnes of CO₂ avoided, and $31.7 billion worth of health and air pollution benefits.
The government is facilitating this growth through landmark initiatives such as the PM Surya Ghar: Muft Bijli Yojana, which has received over 5.87 million applications and resulted in 1.72 million completed rooftop solar installations.
To ensure financing and stability in the sector, a Rs 5,400 crore (~$635 million) Viability Gap Funding (VGF) scheme for 30 GWh of Battery Energy Storage Systems (BESS) has been launched, expected to draw Rs 33,000 crore (~$3.8 billion) in investments.
A comprehensive transmission plan for the evacuation of 500 GW of non-fossil capacity by 2030 has been formulated in coordination with the Ministry of Power, CEA, CTU, and POWERGRID.
The Minister also announced the expansion of the Approved List of Models and Manufacturers (ALMM) and the upcoming implementation of List-II for solar PV cells from June 2026. The Rs 24,000 crore (~$2.8 billion) Production Linked Incentive (PLI) scheme is enabling India to build Aatmanirbharta in solar and wind manufacturing.
To promote innovation and responsible land use, the Ministry is supporting floating solar, canal-top solar, agrivoltaics, and projects in tribal and remote regions. MSMEs and startups are also being empowered to drive clean energy innovations at scale.
Further, the National Green Hydrogen Mission is progressing rapidly, with Rs 19,744 crore (~$2.3 billion) outlay, allocation of 3,000 MW electrolyser capacity, and approval of over 8.6 lakh tonnes per annum of green hydrogen production.
Add comment