States, industry commit RE capacity addition targets; Gujarat leads by pledging 128 GW capacity addition

In addition to states, developers including Reliance Industries Limited (RIL) committed 1,00,000 megawatt (MW) of additional renewable capacity addition (Representative image)

As India aims to achieve 500 GW of non-fossil energy capacity by 2030, states and union territories (UTs) pledged respective renewable energy capacity targets.

At the 4th Global Renewable Energy Investor’s Meet and Expo (RE-INVEST), state governments submitted Shapat Patras (or pledges) to the Ministry of New and Renewable Energy (MNRE) for adding renewable energy capacity by 2030.

Gujarat pledged additional renewable energy capacity addition of 128.60 gigawatts (GW) by 2030—highest among all the other states. Andhra Pradesh committed adding 72.60 GW of capacity followed by Maharashtra, Rajasthan and Uttar Pradesh which pledged 62.73 GW, 57.71 GW and 47.63 GW, respectively.

Inaugurating RE-Invest in Gandhinagar, New and Renewable Energy Minister Pralhad Joshi said banks and financial institutions have committed to additional $386 billion, or Rs 32.45 lakh crore, of financing by 2030 for the development of the projects.

“We have received overwhelming commitments from the States and UTs as well as from the developers, manufacturers and financial institutes to support our goal of 500 GW by 2030,” said Joshi.

India’s solar energy capacity has jumped 33 times in the last 10 years, he added. The minister said in the last 10 years, the total RE generation in India has increased by 86 percent, from 193.50 billion units (BU) to 360 BU.

In addition to states, developers including Reliance Industries Limited (RIL) committed 1,00,000 megawatt (MW) of additional renewable capacity addition while NTPC, ReNew and Adani pledged 41,300 MW, 40,000 MW and 38,800 MW, respectively.