India’s Path To 500 GW By 2030: Collaborative Efforts And Strategic Initiatives Unveiled At Chintan Shivir

Union Minister of New and Renewable Energy, Shri Pralhad Joshi, recently announced that a dedicated task force would be established by the Ministry of New and Renewable Energy (MNRE) in collaboration with the Ministry of Power to help achieve India’s ambitious goal of 500 GW of renewable energy capacity by 2030. The announcement was made during the valedictory session of the two-day Chintan Shivir event, held in Bhubaneswar, Odisha, organized by MNRE.

Minister Joshi highlighted the immense challenges ahead, emphasizing the need to install 288 GW of renewable energy capacity over the next six years. This would require a substantial investment of ₹42 lakh crore, including the development of necessary transmission infrastructure. To tackle these challenges, he stressed that all stakeholders needed to come together and work collaboratively. He also underlined that India’s commitment to achieving the “Panchamrit” goals set by Prime Minister Narendra Modi, which include the 500 GW target by 2030, remains strong.

The event brought together 117 industry leaders, along with 67 representatives from states and public sector units, including officials from 12 key renewable energy-producing states. The Minister reiterated the importance of these collaborative efforts and mentioned that MNRE would be organizing hackathons aimed at promoting innovation in renewable energy technologies. Additionally, a new Joint Centre of Excellence for Research and Development (R&D) would be set up in collaboration with the Ministry of Power to foster technological advancements in the sector. Minister Joshi also stressed the need for timely finalization of Power Purchase Agreements (PPAs) and the strict enforcement of Renewable Purchase Obligations (RPOs) to ensure the success of renewable energy projects in the country.

Joshi also recognized Odisha’s significant potential for renewable energy, especially in solar power, with an estimated capacity of 140 GW. The state’s long coastline and port infrastructure present immense opportunities for green hydrogen production. The Centre is exploring the scope for setting up floating solar panels in Odisha, which would further enhance its renewable energy capacity. The Minister also highlighted two major solar manufacturing projects being set up in Odisha. One involves a ₹9,000 crore investment in the Dhenkanal district, with a production capacity of 6,000 MW for solar modules, solar cells, and ingot wafers. The second project, with an investment of ₹730 crore, will focus on solar module and cell production in Khorda, Bhubaneswar.

In addition, Minister Joshi discussed the success of the PM Surya Ghar Yojana, which aims to install solar power systems for households. He mentioned that the initiative is expected to exceed 5 lakh installations by the end of November 2024. He also revealed that suggestions are being considered to expand the Production Linked Incentive (PLI) scheme to boost domestic manufacturing of solar modules and cells.

The event concluded with strong reaffirmations of commitment from both the Union and Odisha governments. Deputy Chief Minister of Odisha, Shri Kanak Vardhan Singh Deo, assured that the state would support the Union government in meeting the ambitious targets set for renewable energy. MNRE Secretary Shri Prashant Kumar Singh praised the event’s success in facilitating exchanges of ideas and underscored the importance of inter-ministerial coordination to address sector challenges. Odisha’s Principal Energy Secretary, Shri Vishal Kumar Dev, also addressed the gathering, while Additional Secretary Shri Sudeep Jain thanked all participants for their contributions.

The Chintan Shivir, which began on November 14, 2024, featured 17 sessions covering critical topics like solar and wind energy deployment, green hydrogen, energy storage, and transmission planning. Leading decision-makers, financial institutions, industrialists, and key officials from both central and state governments participated in these discussions, playing a vital role in shaping India’s renewable energy future.