Gandhinagar: India’s renewable energy sector is set to receive $386.30 billion in investments by 2030 as the country accelerates its efforts to achieve 500 GW of renewable energy (RE) capacity. At the RE-Invest 2024 event in Gandhinagar, companies outlined their expansion plans, with major players like Reliance Industries and NTPC committing to significant capacity additions.
Reliance Industries pledged 100 GW of RE capacity, while NTPC committed 41.3 GW. Other firms, including ReNew Power and Adani Green Energy, announced plans to install 40 GW and 38.8 GW respectively. Green energy companies aim to develop 570 GW of RE generation projects by 2030.
State governments also made significant commitments. Gujarat plans to add 128.60 GW of RE capacity, followed by Andhra Pradesh with 72.60 GW and Maharashtra with 62.73 GW. In total, 32 states and union territories submitted detailed expansion plans.
Financial institutions have pledged $295.25 billion towards the sector’s growth. REC Ltd, IREDA, and the State Bank of India are among the key lenders.
These developments reflect India’s strategy to sustainably meet its growing energy demand, as it continues to push towards its renewable energy goals.
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