Renewables to anchor India’s long-term growth, says Aryaman Birla

Renewable energy

The renewables sector is poised to be a central driver of India’s ambition to grow into a $30–35 trillion economy, with power demand expected to almost triple by 2047, Aditya Birla Group director Aryaman Birla has said.

"As a nation, we are rapidly moving towards our target of ~500 GW of non-fossil fuel capacity by 2030. With energy demand expected to grow nearly three times by 2047, and more than half of that coming from renewables, this sector will power India’s march to a $30–35 trillion economy,” Birla said in a LinkedIn post early on December 10.

“Add to this, the surge in data centres, AI, and digital infrastructure, and the need for dependable, clean power becomes urgent and undeniable.".

The comments come as Blackrock’s Global Infrastructure Partners is set to invest Rs 3,000 crore in Aditya Birla Renewables Ltd, valuing the company at Rs 14,000 crore.

The investment, announced on December 9, is one of the largest primary commitments for a minority stake in a renewable platform in India.

"The deal signals investor confidence in our vision to accelerate India’s renewable energy transition and scale responsibly. It also helps us move decisively towards our goal of reaching 10 GW of capacity over the next few years," Birla wrote in his post.

Aditya Birla Renewables is the holding company of the group's green energy ventures. It is a wholly owned subsidiary of the group flagship Grasim Industries Ltd. It has a portfolio of 4.3 GW across 10 states delivering solar, hybrid, floating solar, round-the-clock renewable power.

The company aims to build a comprehensive renewables platform with a presence across all major technologies, focusing on both Commercial and Industrial (C&I) segment and utility-scale projects, its business head Jayant Dua said in a statement.