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Prime Minister Of India, Narendra Modi, at Glasgow COP26 Summit, 2021, announced that India will reach 500 GW of installed power generation capacity through non-fossil fuel by 2030, alongside renewable sources supplying 50% of the country’s energy needs.
Now, in order to follow up on Prime Minister Modi’s announcement at the COP26 climate conference, a month ago, the government will shortly release a ‘Mission 500GW’ action plan.
A joint committee of the ministries of power and new and renewable energy would soon be formed to develop a clear action plan to increase India’s renewable energy (RE) capacity to 500GW by 2030.
This body will also analyze transmission challenges, various types of technologies to be deployed, the energy mix for the 500GW target, and storage requirements, according to officials.
The committee will also investigate the regulatory framework essential for the expansion of renewable energy and attracting necessary foreign investment into the sector.
India’s current capacity is nearly 101 GW. This indicates that another 400GW of renewable energy must be added within the stipulated time to satisfy the target.
India had previously stated a goal of 450GW of renewable energy. With 50GW to add, the 500GW mission is no easy task, as RE capacity must be increased by about 30-40GW per year over the next nine years.
India’s present course reveals that it has added 8GW of renewable energy per year on average, with the exception of 2020, when it added 12GW.
A 40GW addition every year will thus be a difficult assignment, especially given that this must be done without the input from huge hydropower projects.
So far, India’s 450GW RE objective has remained ambiguous, allowing the government to stick to around 390GW of RE and add 60GW of huge hydro energy.
According to officials, the post-COP26 promise will now necessitate a wholly RE-led 500GW effort. The mechanics for which shall be laid out by the committee.
The new architecture will be heavily influenced by the Central Electricity Authority’s Report on Optimal Generation Capacity Mix for 2029-30.
The report meant for the previously stated 450GW renewable energy objective stated that 280GW would come from solar power and 140GW from wind energy. The remainder would be derived from different hybrid energy sources. This is where the proposed hydrogen-biofuel blend may come into play.