RE-INVEST 2024: Pralhad Joshi says ₹32.45 lakh crore finance pledged for renewables sector
The Hindu
Union Minister Pralhad Joshi urges investors to tap into India's booming renewable energy sector with ₹32.45 lakh crore financing commitment.
Union New & Renewable Energy Minister Pralhad Joshi on Monday (September 16, 2024) urged investors to invest in India saying that ₹32.45 lakh crore finance in green projects has been committed by banks and financial institutions.
Addressing the inaugural session of the 4th RE-INVEST 2024, Mr. Joshi said, "we have received overwhelming commitments from the states and UTs as well as from developers, manufacturers and financial institutions to support our goal of 500 GW by 2030." He informed that developers have committed an additional 570 GW of capacity addition.
The manufacturers have committed additional manufacturing capacities of 340 GW in solar modules, 240 GW in solar cells, 22 GW in wind turbines and 10 GW in electrolysers, he said.
Banks and financial institutions have committed to additional $386 billion (₹32.45 lakh crore) of financing by 2030.
"I invite all stakeholders to invest in India's vibrant and rapidly growing renewable energy sector, " he said.
As India continues to rise on the global stage, your investment will benefit from our increasing influence and strategic international partnerships, Mr. Joshi said.
Together, let us turn this vision into reality and harness the immense potential that India offers, he added.
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