India on track to reach 450 GW RE capacity by 2030: Power ministry

According to the Ministry of New and Renewable Energy (MNRE), India is on track to reach 450 GW of renewable energy installed capacity by 2030. The ministry in collaboration with FICCI, hosted a series of events from October 6 to 8 during Expo 2020 Dubai's Climate and Biodiversity Week. India's Renewable Energy Achievements and Ambitions; 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 of One Sun, One World, One Grid (OSOWOG), promoting interconnection across borders to harness solar energy without interruption. RK Singh, Minister of Power, New and Renewable Energy, 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. Singh also informed that 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, said Singh. Singh said 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, as well as his vision of SECI becoming a new world energy conglomerate. SECI will continue to work toward the goal of 450 GW by 2030. Khuba said that India is set to tap into more than 70 GW of offshore wind potential in his Keynote address on the theme of Renewable Energy in India: Emerging Areas and Opportunities. Indu Shekhar Chaturvedi, Secretary, Ministry of New and Renewable Energy, Government of India, said that to a large extent, India's current RE capacity additions are the result of favourable public policy, and the private sector has played a key role in achieving this. Image SourceAlso read: PM discusses India’s renewable energy scenario with First Solar CEO