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- India receives $386 billion in funding for its 2030 renewable energy goals.
- Reliance Industries commits to 100 GW in clean energy, with Adani Green Energy adding 38.8 GW.
- Power demand expected to push coal-fired power output up 8.9%, though renewable energy grows by 8.2%.
India’s push toward clean energy just received a major boost, with $386 billion in funding commitments to help reach its target of 500 gigawatts (GW) of renewable energy by 2030. Key industry players, including Reliance Industries and Adani Green Energy, have pledged to significantly expand their renewable energy capacities.
“We received overwhelming commitments from states and Union Territories as well as from developers, manufacturers, and financial institutes to support our goal of 500 GW by 2030,” said Pralhad Joshi, India’s Renewable Energy Minister, at the annual Renewable Energy Investor’s Meet and Expo.
The Numbers
- India added 18 GW of renewable energy in 2024, bringing the total to 153 GW, up from 15.3 GW in the previous year.
- Reliance Industries committed to building 100 GW of additional renewable energy capacity, while Adani Green Energy pledged 38.8 GW.
Analysts project that India’s renewable energy capacity will further accelerate, reaching 25 GW in 2024-25, driven by strong government initiatives and corporate backing.
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Despite growth in renewables, India’s increasing power demand is causing a parallel rise in coal-fired power output, expected to climb by 8.9% in 2024-25, compared to an 8.2% increase in renewable energy production.
As economic activity rebounds post-pandemic and heatwaves strain the grid, balancing clean energy expansion with current energy needs remains a challenge. Yet, with major conglomerates like Reliance and Adani backing the government’s vision, India’s path to a more sustainable energy future seems promising.