New Delhi, May 12 (IANS) India is well on track to achieve its target of 500 GW of non-fossil fuel energy capacity by 2030, New and Renewable Energy Minister Pralhad Joshi said on Tuesday.

Addressing the CII annual business summit here, the minister highlighted that India’s journey towards 500 GW green energy capacity is simultaneously laying the foundation for a globally competitive, innovation-driven and Aatmanirbhar energy ecosystem.

He said that India’s non-fossil fuel capacity has increased from 81 GW in 2014 to 288 GW at present, registering a growth of over 256 per cent. Solar energy capacity has risen from 2.8 GW to 155 GW, while wind energy capacity has grown from 21 GW to 56.4 GW.

The minister underscored that the next phase will require deeper integration of generation, storage and transmission systems, along with enhanced grid resilience. He also underlined the importance of continued collaboration between government and industry to sustain the momentum of growth.

Joshi further highlighted that at a time when global renewable energy investments declined by around 7 per cent, India continued to attract strong investment flows, underscoring growing global confidence in its clean energy trajectory. The minister emphasised that this progress reflects the deep and effective partnership between the government and industry, which has been instrumental in driving India’s renewable energy expansion.

Acknowledging the role of industry stakeholders, he stated that the progress achieved in India’s renewable energy sector is a result of a strong public-private partnership. “The shared commitment between government and industry will be even more critical as we move towards building a globally competitive, technologically advanced and inclusive energy system,” he said.

The minister invited industry stakeholders and global investors to participate in the upcoming Renewable Energy Global Investors Meet scheduled later this year.

He expressed confidence that with continued focus on scale, speed, skill and Aatmanirbharta, India will not only achieve its clean energy targets but also emerge as a global benchmark for sustainable industrial transformation.

He highlighted that renewable energy is becoming a critical determinant of competitiveness in key industrial sectors such as steel, aluminium, chemicals, automotive and textiles. He emphasised the importance of emerging areas, including green hydrogen, battery storage, pumped hydro, offshore wind and round-the-clock renewable energy solutions in the next phase of growth.

The minister noted that just days ago, Prime Minister Narendra Modi had made seven appeals to citizens, encouraging more responsible and Aatmanirbhar ways of living and working. He said this message reflects the direction in which both India and the world are moving, with sustainability and self-reliance becoming central to future growth pathways.

He observed that in the current global context, energy policy has become synonymous with industrial and trade policy. He pointed out that evolving global frameworks such as carbon-linked trade regulations are reshaping international markets. For the Indian industry, adoption of renewable energy is no longer optional but essential for maintaining export competitiveness and managing future cost pressures, he added.

Joshi stated that India has recorded one of the fastest expansions in renewable energy capacity globally. He cited significant growth across non-fossil energy, solar, and wind capacity, as well as major advancements in domestic manufacturing of solar modules and cells. He also noted that renewable energy played a critical role in meeting India’s record peak power demand, contributing nearly one-third of the highest-ever demand of 256 GW.

The minister also outlined key policy measures undertaken to strengthen the renewable energy sector, including notification of long-term Renewable Consumption Obligation trajectories, introduction of Carbon Credit Certificate Regulations, 2026, long-term green ammonia procurement agreements, a standardised warranty framework for solar PV modules, the Renewable Energy Equipment Import Monitoring System, and tax and duty reforms supporting domestic manufacturing.

–IANS

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