New Delhi: India will witness more than 83 per cent increase in investments in renewable energy projects to around $ 16.5 billion in 2024 as the country focuses on energy transition to reduce carbon emissions, according to power ministry estimates.
This is in line with India’s ambitious target of having 500 GW of renewable energy by 2030 and its resolve to reduce overall power generation capacity from fossil fuels to less than 50 per cent. India has committed a net zero emission target by 2070.
However, Union Power and New & Renewable Energy Minister R K Singh has said on many occasions that as much as 65 per cent power generation capacity would be from non-fossil fuels by 2030 and that would be higher than the set target of 50 per cent.
