Blitz Bureau
NEW DELHI: The global Renewable Energy Investors’ Meet and Expo (RE-INVEST) drew investment commitments worth Rs 32.45 lakh crore by 2030, Union Minister for New and Renewable Energy, Pralhad Joshi, said on September 18.
Addressing a press conference Joshi informed that developers have committed an additional 570 GW, and manufacturers have committed additional manufacturing capacities of 340 GW in solar modules, 240 GW in solar cells, 22 GW in wind turbines and 10 GW in electrolysers.
“This is a big commitment by the states, developers, banks and financial institutions to join hands and work together for a cleaner and sustainable India,” he said.
The renewable energy sector made significant strides in the first 100 days of the new Government under Prime Minister Narendra Modi.
“Now, PM Modi is not only leading our country towards the 500 GW target but also is a beacon of hope for the globe,” Joshi added.
Joshi also chaired a CEO roundtable, where he emphasised that 500 GW is not just a number and the Government is serious about it.
“Therefore, the CEOs must share what the facilitation required from the Government.” The CEOs provided inputs for ramping up the manufacturing, creating demand with effective enforcement of Renewable Purchase Obligations (RPO), embedding circularity principles, and enhancing the climate resilience of the projects.
Installed solar PV module manufacturing capacity in India in 2014 was around 2.3 GW and installed solar PV cell manufacturing capacity was around 1.2 GW.
“Installed solar PV Module manufacturing capacity in India, as of now, is around 67 GW and the installed solar PV cell manufacturing capacity as of now is around 8 GW,” Joshi informed.
