New Delhi
India is rapidly expanding its renewable energy capacity at a rate of 50 GW per year, one of the world’s fastest, with the goal of achieving a 45% reduction in emissions by 2030, surpassing the COP28 summit’s target of 43%. R.K Singh, Minister for Power and Renewable Energy, is optimistic about India exceeding its commitments.
The country aims to have 65% of its established capacity from non-fossil fuels by 2030, surpassing the 50% pledged in Glasgow. The share of non-fossil fuel sources in India’s total installed electricity generation capacity reached 43.82% by October 31, 2023. The country has installed 186.46 GW capacity from non-fossil fuel-based energy resources, including 178.98 GW of renewable energy and 7.48 GW of nuclear power. Additionally, 114.08 GW of capacity is under implementation, and 55.13 GW is under tendering. The government, private sector investments, and state initiatives are propelling India toward achieving its renewable energy goals.
The National Green Hydrogen Mission aims to make India a global hub for green hydrogen production, with a target of 5 MMT capacity per annum by 2030. The mission seeks to substitute grey hydrogen with green hydrogen in industries, reducing carbon footprint and import dependence on fossil fuels. The government is also exploring new technologies like Small Modular Reactors to support its commitment to a clean energy transition.
