Union Minister of New and Renewable Energy, Pralhad Joshi announced in Rajya Sabha that India has reached its renewable energy capacity to 203.1 GW. The country has increased by 165% since 2014. India has significantly ranked fourth in total renewable energy installed capacity globally.
Pralhad Joshi highlighted that the Ministry of New and Renewable Energy (MNRE) aims to reach 500 GW of non-fossil fuel electricity capacity by 2030 as a part of the COP26 commitment. “Viksit Bharat is our aim, Urja Vikas is our mission,” said Joshi, focusing on increasing energy security which is an important aspect.
The minister also announced the increase in the budget for MNRE for the year 2024-25 which has almost doubled to over 20,000 crore from 10,000 crore last year. It also includes 19,100 crore directly for MNRE and an additional ₹2,130 crore from the Sovereign Green Fund (SGF).
The renewable energy sector has seen immense growth, Solar power capacity has expanded from 2.82 GW in 2014 to 85.47 GW in 2024 whereas wind power capacity has grown from 21.04 GW to 46.66 GW. Therefore, the share of non-fossil fuel in the total installed capacity has reached 45.54% from 32.30 %.
Joshi also highlighted government-initiated schemes and programs. These include PM Surya Ghar Muft Bijli Yojana which was launched to install rooftop solar panels in one crore households. Additionally, the National Green Hydrogen Mission with an expenditure of Rs 19,744 crore aims to push India to become a global leader for green hydrogen production and utilization.
Further schemes like Rs 7,543 crore viability gap funding for offshore wind projects and an aim to install 13,000 MW of renewable energy with a 12,000 MWh battery storage system.
