India Requires $215 Billion for Green Energy Transition
POWER & RENEWABLE ENERGY

India Requires $215 Billion for Green Energy Transition

India's push towards renewable energy will require an estimated investment of $215 billion to effectively transition from coal, which continues to dominate the energy sector. This significant financial commitment is necessary for the country to meet its climate change goals and enhance its renewable energy capacity.

The report highlights that, despite India's ambitious targets for expanding its renewable energy portfolio, coal remains a major player in the nation's energy landscape, accounting for a significant portion of electricity generation. This ongoing reliance on fossil fuels poses challenges to India's environmental commitments and hampers efforts to reduce carbon emissions.

To facilitate the shift towards cleaner energy sources, substantial investments are needed in infrastructure development, technological advancements, and the promotion of sustainable practices. Key areas of focus include the expansion of solar and wind energy capacity, improvement of energy efficiency, and the development of a robust energy storage system to manage renewable energy intermittency.

The Indian government has initiated various policies and programs aimed at encouraging investment in the renewable sector, including incentives for solar power generation and regulatory reforms. However, achieving the targeted capacity of 500 GW of renewable energy by 2030 necessitates accelerated investment from both public and private sectors.

International cooperation and partnerships will also play a crucial role in meeting the financial requirements for India's green energy transition. By securing investments and leveraging global expertise, India can better navigate the complexities of its energy transition, ultimately fostering a more sustainable and resilient energy future.

India's push towards renewable energy will require an estimated investment of $215 billion to effectively transition from coal, which continues to dominate the energy sector. This significant financial commitment is necessary for the country to meet its climate change goals and enhance its renewable energy capacity. The report highlights that, despite India's ambitious targets for expanding its renewable energy portfolio, coal remains a major player in the nation's energy landscape, accounting for a significant portion of electricity generation. This ongoing reliance on fossil fuels poses challenges to India's environmental commitments and hampers efforts to reduce carbon emissions. To facilitate the shift towards cleaner energy sources, substantial investments are needed in infrastructure development, technological advancements, and the promotion of sustainable practices. Key areas of focus include the expansion of solar and wind energy capacity, improvement of energy efficiency, and the development of a robust energy storage system to manage renewable energy intermittency. The Indian government has initiated various policies and programs aimed at encouraging investment in the renewable sector, including incentives for solar power generation and regulatory reforms. However, achieving the targeted capacity of 500 GW of renewable energy by 2030 necessitates accelerated investment from both public and private sectors. International cooperation and partnerships will also play a crucial role in meeting the financial requirements for India's green energy transition. By securing investments and leveraging global expertise, India can better navigate the complexities of its energy transition, ultimately fostering a more sustainable and resilient energy future.

Next Story
Infrastructure Transport

Railways approves major upgrade for Telangana traction lines

The Ministry of Railways has approved the upgradation of the electric traction system in two crucial railway sections — Medchal–Mudkhed (225 km) and Mahbubnagar–Dhone (184 km). The projects, costing Rs 1.93 billion and Rs 1.23 billion respectively, will enhance the electric traction capacity from 1X25 KV to 2X25 KV. The work includes modifications to circuit breakers and switching stations, along with the installation of additional conductors. These routes serve as vital links between Northern and Southern India via Hyderabad. Once completed, the upgraded system will reduce voltage dro..

Next Story
Infrastructure Transport

Adani to invest Rs 425 billion more in Maharashtra’s Dighi Port

The Adani Group has committed to invest an additional Rs 425 billion in the Dighi Port project, located along Maharashtra’s coastal Konkan belt, government officials announced on Monday. Adani Ports and Special Economic Zone (APSEZ)-run Dighi Ports signed a memorandum of understanding (MoU) with the Maharashtra government to undertake the expansion of the port and related infrastructure. This new commitment comes as part of a broader investment initiative by the state. Chief Minister Devendra Fadnavis said the agreement is among 15 MoUs worth over Rs 560 billion signed during the opening d..

Next Story
Infrastructure Transport

HUDCO, JNPA sign Rs 50 billion deal for port development

In a strategic move, the Housing and Urban Development Corporation Ltd (HUDCO) has signed a Memorandum of Understanding (MoU) with the Jawaharlal Nehru Port Authority (JNPA) for an investment of Rs 50 billion to revamp and develop port infrastructure. The non-binding agreement is intended to strengthen cooperation on both existing and upcoming infrastructure projects, with a focus on development, financing, and refinancing of port facilities at the Jawaharlal Nehru Port. The MoU was formalised with the signatures of Sanjay Kulshrestha, Chairman and Managing Director of HUDCO, and Unmesh Shar..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?