New Delhi, Jan 11 (IANS) Union Minister for Renewable Energy Pralhad Joshi said on Sunday that India offers a $300 billion investment opportunity across renewable energy generation, storage, green hydrogen, grids and manufacturing by 2030.

Addressing the 16th Assembly of the International Renewable Energy Agency (IRENA) in Abu Dhabi, United Arab Emirates, the Union Minister added that with stable policies and transparent markets, India continues to remain one of the most attractive destinations for clean energy investment.

Calling for enhanced international cooperation, Union Minister Joshi stressed the importance of technology transfer, access to low-cost finance, capacity building and harmonisation of standards, particularly to support developing countries in scaling up renewable energy without compromising development aspirations.

Reaffirming India’s strong support for IRENA, he said that India stands ready to share its experience, institutions and technical expertise and to work closely with all member countries, especially Least Developed Countries and Small Island Developing States, to accelerate the global renewable energy transition.

The Union Minister emphasised that India’s energy transition is not only about capacity addition, but about people, opportunity and a shared sustainable future.

Addressing the Assembly, Union Minister Joshi said that India’s approach to energy transition is guided by the principle of ‘Vasudhaiva Kutumbakam’ — One Earth, One Family, One Future, and a long-term vision anchored in equity, inclusivity and policy stability.

He reiterated India’s commitment to achieving 500 GW of non-fossil fuel installed power capacity by 2030 and Net Zero emissions by 2070.

Highlighting a major milestone, Union Minister Joshi told that India has already achieved 50 per cent of its installed electricity capacity from non-fossil fuel sources in 2025, five years ahead of its Nationally Determined Contribution (NDC) target under the Paris Agreement.

“India’s renewable energy capacity has crossed 266 GW, placing the country among global leaders in renewable energy deployment.”

The Union Minister underlined that as one of the world’s fastest-growing major energy markets, India is prioritising reliable and resilient power systems through accelerated deployment of energy storage solutions, grid modernisation, development of Green Energy Corridors and innovative bidding mechanisms such as hybrid and round-the-clock renewable energy projects.

He also highlighted India’s efforts to strengthen clean energy supply chains and expand domestic manufacturing across solar, wind, batteries and electrolysers, contributing to both national self-reliance and diversified global supply chains.

Emphasising the people-centric nature of India’s energy transition, the Union Minister highlighted flagship programmes aimed at empowering households and farmers.

“Under the PM Surya Ghar: Muft Bijli Yojana, around 2.5 million households have benefitted from rooftop solar installations in less than two years, with a target to cover 10 million households by March 2027.”

“Under the Pradhan Mantri Kisan Urja Suraksha evam Utthan Mahabhiyan (PM-KUSUM) scheme, about 2.17 million farmers have benefited through replacement of diesel pumps and solarisation of agricultural feeders.”

Earlier, Union Minister Joshi participated in the high-level dialogue on “Reimagining Energy Futures: Bold Visions for Shared Prosperity” held on the sidelines of the Assembly.

He reaffirmed India’s commitment to a people-centric energy transition, driven by strengthened international cooperation on finance, technology and governance, with the objective of delivering shared prosperity for all.

Emphasising that the energy transition must become a mass movement driven by equity and inclusion, the Union Minister said that India added nearly 50 GW of renewable energy capacity in 2025.

He congratulated the Dominican Republic on assuming the Presidency of IRENA and extended best wishes to the Vice-Presidents, Kenya, Solomon Islands, Spain, and Antigua and Barbuda, expressing confidence that their leadership will further strengthen multilateral cooperation and advance a sustainable and inclusive global energy transition.

The Union Minister also held a meeting with Amna bint Abdullah Al Dahak, Minister of Climate Change and Environment of the United Arab Emirates, to further strengthen India–UAE cooperation on climate action, clean energy and food security.

During the interaction, the two sides reviewed the expanding partnership in renewable energy, investment and innovation, anchored in multiple Memoranda of Understanding signed between 2014 and 2024 and aligned with the UAE’s Net Zero 2050 goal.

The discussions focused on enhancing collaboration in renewables, decentralised energy solutions, manufacturing, energy storage, technology cooperation and blended finance, with an emphasis on people-centric, scalable initiatives to enhance energy security, resilience and long-term sustainability.

–IANS

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