Indian Economy News

Prime Minister Mr. Narendra Modi pledges to help India achieve 500 GW renewable energy target by 2030

  • IBEF
  • September 6, 2024

Prime Minister Mr. Narendra Modi spotlighted India's remarkable progress in solar energy, noting that the country’s solar capacity has increased 32-fold in the last decade. He said this growth will help India achieve its 500 GW renewable energy goal by 2030. Speaking via video at the International Solar Festival, he praised India's leadership among G20 nations in green energy, stating that India was the first to meet the Paris Agreement commitments in renewable energy. He credited much of this success to solar energy expansion, highlighting its role as a key driver in achieving future energy targets. He also called for democratizing green energy technology and manufacturing to support developing nations. He emphasized the importance of including marginalized communities and youth in the solar sector. Reflecting on ancient Vedic wisdom, he noted the enduring cultural reverence for the Sun, drawing parallels to India’s solar energy leadership. He further acknowledged the International Solar Alliance (ISA)’s growth, which now includes 100 member countries, with 19 more in the process of joining.

Union Minister of New and Renewable Energy, Consumer Affairs, Food and Public Distribution Mr. Pralhad Joshi, President of the ISA Assembly, echoed Prime Minister Mr. Narendra Modi’s views, stressing the integration of India’s ancient sun-worshipping traditions with modern advancements in solar energy. Joshi highlighted India's efforts to reduce its carbon footprint, despite its low per capita CO2 emissions, and underscored the ongoing challenge of energy access, noting that over 675 million people globally still lack reliable electricity. He emphasized balancing energy access with the transition to renewable sources. He discussed initiatives like the SolarX Startup Challenge, aimed at solving solar sector challenges, and the Global Solar Facility, designed to address investment gaps in high-risk regions. As the festival continues, the focus remains on advancing the global solar agenda, ensuring that solar energy plays a significant role in future energy solutions.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.

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