Union Minister for New and Renewable Energy, Pralhad Joshi, announced the formation of a dedicated task force to achieve India's ambitious target of 500 GW of renewable energy capacity by 2030. The task force, involving all stakeholders, will be established through collaboration between the Ministry of New and Renewable Energy (MNRE) and the Ministry of Power.
Speaking at the conclusion of the two-day Chintan Shivir event in Bhubaneswar, Odisha, Joshi emphasised the urgent need to install 288 GW of renewable energy capacity over the next six years, requiring an investment of Rs 42 trillion, including for transmission infrastructure. He urged stakeholders to address the challenges in the renewable energy sector collectively.
The event saw participation from 117 industry leaders, 67 representatives from states and PSUs, and 12 key renewable energy-producing states. Joshi reiterated India's commitment to the ‘Panchamrit’ goals announced by Prime Minister Narendra Modi, highlighting the focus on achieving 500 GW of non-fossil fuel energy by 2030.
Key initiatives announced included hackathons for renewable energy startups to promote indigenisation, assured offtake of innovative technologies, and the establishment of a Joint Centre of Excellence for R&D in collaboration with the Ministry of Power. The Minister also stressed the need for timely finalisation of Power Purchase Agreements (PPAs) and stricter enforcement of Renewable Purchase Obligations (RPOs) to ensure project success.
Odisha's renewable energy potential featured prominently in the discussions, with its solar capacity estimated at 140 GW and opportunities in green hydrogen production. The state’s infrastructure, including its coastline and ports, was recognized as a key enabler. Floating solar projects and major manufacturing investments in solar modules, cells, and ingot-wafers were also highlighted. Two projects are underway in Odisha, including a 6,000 MW facility in Dhenkanal District with a Rs 90 billion investment and a 1,000 MW facility in Khorda’s Infovalley-II with Rs 7.3 billion investment.
The PM Surya Ghar Yojana, which has already achieved over 500,000 installations, was commended, and plans to expand the Production Linked Incentive (PLI) scheme for solar manufacturing were discussed.
Deputy Chief Minister of Odisha, Kanak Vardhan Singh Deo, reaffirmed the state's commitment to meeting India’s renewable energy targets. MNRE Secretary Prashant Kumar Singh and other senior officials stressed the importance of inter-ministerial coordination to overcome sector challenges.
The Chintan Shivir 2024 featured 17 sessions addressing critical topics such as solar and wind energy, green hydrogen, energy storage, land acquisition, and policy development. It brought together key decision-makers, financial institutions, industrial leaders, and central and state government representatives, laying the groundwork for achieving India's renewable energy aspirations. (ET)
