March 30, 2023

Highlights

Green power capacity of 165 GW is already available in the country.
India is moving in the right direction to meet the energy requirement.
Electricity consumption in India will grow at the rate of 5.4 percent annually.

New Delhi. India’s target of achieving 500 GW of renewable energy capacity by 2030 requires investment of around $300 billion. It has been estimated in a report. arthur de little (ADL) The report released on Monday said that India already has 165 GW of green energy capacity. India is moving in the right direction to meet 50% of its energy requirement from renewable portfolio.

ADL’s report ‘Powering India’s Energy Vision-2030’ states that India needs an additional $300 billion of strategic investment to achieve 500 GW of clean energy capacity by 2030.

Also read- Relief from $ electricity crisis, three states signed MoU for 22 hundred billion investment in green energy

Electricity consumption will increase in the coming years in the country
According to the report, electricity consumption in India will grow at a rate of 5.4 per cent annually over the next decade and by 2030, the annual demand will reach 2,300 billion units (BU). However, if seen at the current pace, by 2030 production will reach only 2,024 billion units.

Let us tell you that green energy is an important means as an alternative medium of energy and the government is constantly emphasizing on it. Green energy or clean energy should be produced on a large scale in the country so that our dependence on other countries is reduced. For this purpose, the central government had taken an important decision last year.

The government had invited global bids for setting up of advanced chemistry cell production units on a large scale to promote green energy industry under the Atmanirbhar Abhiyan in the country. These units are planned to be installed in the next 2 years.

In May this year, at the meeting of the World Economic Forum, MoUs (Letter of MoU) with investment proposals of more than Rs 22 hundred billion were signed in 3 states of the country to increase the production capacity of renewable energy in the coming years. These include Andhra Pradesh, Maharashtra and Karnataka.

Tags: Electricity, International Energy Agency, Nuclear Energy

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