Investment in renewable energy has doubled, says Pralhad Joshi

Minister Pralhad Joshi highlights India's renewable energy progress and emphasizes energy security in Rajya Sabha debate.

Replying to a debate in the Rajya Sabha on the functioning of the Ministry of New and Renewable Energy, Minister Pralhad Joshi said on Tuesday that energy security is one of the nine key priority areas for the Narendra Modi government. He said the budgetary allocation for the sector had almost doubled from ₹10,000 crore in the last year to more than ₹20,000 crore this year.

Mr. Joshi said the budget proposals would create employment opportunities in the renewable energy sector, reduce dependence on fossil fuels and mitigate climate change, enhance energy security and reduce carbon emissions, thereby promoting sustainable development. “We must seize this opportunity to transform India into a global leader in renewable energy,” he said.

Since 2014, Mr. Joshi said, the country had increased the capacity of renewable energy by 165% — from 76.38 gigawatt (GW) in 2014 to 203.1 GW in 2024. “We have crossed 200 GW capacity from non-fossil fuel sources, that includes 85.47 GW of solar power, 46.93 GW of large hydro, 46.66 GW of wind power, 10.95 GW of bio power and 5 GW small hydro power,” he said.

He said the installed capacity of solar and wind power had increased and the share of thermal sources had come down. “India has achieved fourth position globally in renewable energy installed capacity,” he said.

Objecting to a remark by Congress MP Ranjeet Ranjan that Prime Minister Narendra Modi was on friendly terms with China, Mr. Joshi said during the Congress regime, a large tract of Indian territory was conceded to China. The Opposition walked out in protest against the Minister’s statement.