Suryaa National Desk: India is moving fast to become a world leader in renewable energy. Targeted clean energy by 2030 India is moving fast to become a world leader in renewable energy. The central government has prepared a massive plan aimed at mobilizing huge investments of 220 billion dollars (about over Rs. 18 lakh crore) domestically in order to achieve the clean energy targets set by 2030. Sources in the Union Energy Ministry have clarified that this fundraising is crucial for expanding environment-friendly power generation, besides significantly reducing carbon emissions.
India is committed to achieving 500 GW of non-fossil fuel (carbon-free electricity) capacity by 2030. To achieve this ambitious goal, large-scale projects in the areas of solar, wind power, green hydrogen and energy storage systems (battery storage systems) have to be built. It is in this context that the Center is framing favorable policies and incentives to attract massive investments from global investors, international financial institutions and domestic corporate giants. The government has given special attention to strengthening the grid infrastructure required for expansion of solar and wind power projects. State-of-the-art transmission networks will be constructed to distribute clean energy across the country without disruptions in power supply.
Global energy analysts hail that India is at the forefront of countries moving rapidly towards renewable energy, reducing coal-fired power consumption internationally. Through this massive flow of investment, lakhs of new job opportunities will be created in the country and the economy will get a strong boost. Industry groups are of the opinion that this 220 billion dollar green plan being undertaken by India in achieving energy security will be the beginning of a new revolution, standing as an example for the world countries in the fight against climate change.
