India’s Renewable Energy Push and ISA’s Global Initiatives

Progress on Solar and Wind Targets: India has approved 50 solar parks totaling 37.5 GW and identified offshore wind sites to reach 30 GW by 2030. Union Minister Pralhad Joshi highlighted the nation’s achievements, including 90 GW of installed solar capacity and a 500 GW renewable energy target by 2030.

Strategic Investments and Policies: The 2024-25 Union Budget reflects a 110% funding increase for solar projects, support for the PM Surya Ghar Muft Bijli Yojana, and critical mineral import exemptions to drive solar innovation. The PM-KUSUM scheme empowers rural farmers with solar power for irrigation and income generation, while the PLI scheme bolsters domestic solar manufacturing.

ISA’s Milestone Initiatives: The International Solar Alliance (ISA) aims to mobilize $1,000 billion for solar by 2030, enhance energy access for a billion people, and cut CO₂ emissions. The Solar Data Portal and the Global Solar Facility, backed by a $39 million investment, facilitate data-driven solar project investments, particularly in underserved regions like Africa.

Supporting Innovation: The ISA’s SolarX Startup Challenge and monthly Knowledge Series advance solar innovation and research. The ISA also plans to launch the third edition of the Startup Challenge for Latin America and the Caribbean.


Source: Energetica India