India to reducing dependency on fossil fuels, bring down emissions by 45 per cent

Minister for Power and Renewable Energy RK Singh is confident that the country will be ahead of the curve.

India is expanding its renewable energy capacity at a hectic pace of 50 GW a year, which is among the fastest in the world and aims to achieve a 45 per cent cut in emissions by 2030, which will exceed the target of 43 per cent fixed at the COP28 summit in Dubai. Minister for Power and Renewable Energy RK Singh is confident that the country will be ahead of the curve.

“COP28 has just concluded and one of the important points discussed was that emissions intensity should be reduced by 43 per cent by 2030. This is the main point because emissions are the main reason for global warming,” he said in comments to the media.

“We had pledged in Glasgow that we will have 50 per cent of our established capacity coming from non-fossil-fuels by 2030, we are confident that we will able to achieve 65 per cent. We will also achieve way beyond our target of reducing our emission intensity by 45 per cent by 2030,” the minister had said earlier.

The share of non-fossil fuel sources in India’s total installed electricity generation capacity reached 43.82 per cent as on (31 October, 2023, Singh informed Parliament recently. So far, a total of 186.46 GW capacity from non-fossil fuel-based energy resources has been installed in the country as on October 31, 2023, which includes 178.98 GW Renewable Energy and 7.48 GW Nuclear Power.

In addition, 114.08 GW of capacity is under implementation and 55.13 GW capacity is under tendering, the minister said. The Ministry of New & Renewable Energy is implementing various schemes and programmes for development and deployment of renewable energy, under which an allocation of R7,033 crore was made in 2022-23, which was then increased to R7,848 crore for 2023-24.

The government’s efforts, combined with private sector investments and state-wise initiatives, have propelled India towards achieving its goals in renewable energy. India has added a total of 72.02 GW solar power capacity so far.

Rs 7,848
Crores allocated for generation of renewable energy next year

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