India Eyes ₹30 Lakh Cr for 500 GW Clean Energy by 2030
By Business Desk
India needs over ₹30 lakh crore ($360B USD) for its 500 GW non-fossil fuel energy target by 2030. Minister Joshi highlights domestic investment focus.
Union Minister for New and Renewable Energy, Pralhad Joshi, announced that India requires over ₹30 lakh crore (approximately $360 billion USD) in investment over the next five years. This substantial funding is essential to meet the nation’s ambitious target of 500 GW of non-fossil fuel capacity by 2030.
A significant portion of this required capital is anticipated from diverse domestic financial channels. Mumbai’s robust financial sector is expected to play a crucial role in attracting these clean-energy investments.
Key Investment Sources & Capacity Milestones
- Domestic Financial Institutions: A primary source for the required capital.
- Capital Markets: Expected to contribute substantially to the funding.
- Insurance Funds: Will provide long-term investment support.
- Infrastructure Investors & Private Capital: Critical for large-scale project development.
India has already surpassed 300 GW in installed non-fossil fuel capacity, demonstrating considerable progress. The first four months of FY27 saw the addition of over 17 GW of new renewable energy.
Growth in Renewable Energy Capacity
- Solar Power: Contributed 14.33 GW to new capacity in FY27.
- Wind Power: Added over 2 GW during the same period.
- Overall Non-Fossil Fuel Capacity: Increased by 275% over the past 12 years.
- Solar Capacity Growth: Expanded from 2.8 GW to 165 GW.
- Wind Capacity Growth: Rose from 21 GW to 58 GW.
The PM Surya Ghar Muft Bijli Yojana has significantly boosted rooftop solar adoption, benefiting around 5.35 million households. This initiative underscores the government’s push for distributed renewable energy generation.
Maharashtra has been encouraged to leverage the Bharat Renewable Energy Summit & Expo (BRESE) 2026. This platform aims to attract global stakeholders, including developers, investors, and technology providers, for renewable energy projects and partnerships, especially for the PM-KUSUM scheme’s agricultural solarization efforts.