India on track to reach 450 GW RE capacity by 2030

According to the Ministry of New and Renewable Energy (MNRE), India is on track to reach renewable energy installed capacity of 450 GW by 2030. In collaboration with FICCI, the ministry hosted a series of events from October 6-8 during Expo 2020 Dubai's Climate and Biodiversity Week.

‘India's Renewable Energy Achievements and Ambitions’ and ‘Emerging Areas and Opportunities for Renewable Energy in India’  were among the topics discussed at the events. The Indian Renewable Energy Development Agency (IREDA) and Solar Energy Corporation of India (SECI) hosted the events. The International Solar Alliance also hosted an event with the theme ‘One Sun, One World, One Grid’ (OSOWOG), promoting interconnection across borders to harness solar energy without interruption.

Minister of Power, New and Renewable Energy RK Singh spoke at the MNRE-FICCI-SECI event, emphasising that the world is on the verge of transformation and that immediate corrective action is required to mitigate climate change, as reported. He also said renewable energy intermittency is a global challenge, emphasising that battery storage per unit is currently high and needs to be reduced.There is already a production-linked incentive (PLI) in place for battery storage, and demand must be boosted to lower storage prices, he shared as reported. Singh added that SECI has experienced promising growth and is expected to maintain this momentum as new and emerging areas in the clean energy space are poised for a boom, and expressed his vision of SECI becoming a new world energy conglomerate. SECI will continue to work toward the goal of 450 GW by 2030.

Meanwhile, in his keynote address on the theme ‘Renewable Energy in India: Emerging Areas and Opportunities’  Minister of State Bhagwanth Khuba said India is set to tap into more than 70 GW of offshore wind potential. And  Indu Shekhar Chaturvedi, Secretary, MNRE, said that to a large extent, India's current renewable energy capacity additions are the result of favourable public policy with the private sector playing a key role in achieving this.