India Secures $386 Billion for Renewable Energy
India Secures $386 Billion for Renewable Energy
India Secures $386 Billion for Renewable Energy
News summary

India has secured $386 billion in investment commitments from banks and financial institutions to boost its renewable energy capacity, aiming to reach 500 gigawatts of non-fossil fuel capacity by 2030. This was announced at the 4th Global Renewable Energy Investors Meet & Expo, inaugurated by Prime Minister Narendra Modi in Gandhinagar, Gujarat. The event saw participation from over 25,000 delegates from 140 countries and aims to tackle challenges such as transmission bottlenecks and land acquisition delays. States were encouraged to propose reforms to better integrate green energy. Analysts project India's renewable capacity addition could reach 25 GW in 2024-25, up from 18 GW the previous year. Despite the focus on renewables, India's coal-fired power output is also expected to rise to meet increasing electricity demand.

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