India to Develop 50 Solar Parks with 37.5 GW Capacity and Expand Offshore Wind Energy: Joshi
India has approved 50 solar parks with nearly 37.5 GW capacity and identified offshore wind energy sites, advancing toward its 2030 renewable energy goals, said Union Minister of New and Renewable Energy Pralhad Joshi at the Seventh General Assembly of ISA in New Delhi.
November 05, 2024. By Mrinmoy Dey
He further asserted that under Prime Minister Narendra Modi’s leadership, India has set ambitious renewable energy targets, and achieved remarkable milestones along the way. Last month, India reached an impressive 90 GW of installed solar capacity, moving steadily forward towards its broader goal of 500 GW of renewable energy capacity by 2030. India is also setting its sights on new horizons, with a target to produce 5 million metric tonnes of green hydrogen by 2030, supported by 125 GW of renewable energy capacity.
Joshi said that India’s Union Budget for 2024-25 reflects this commitment, with a 110 percent increase in funding for solar power projects and targeted support for initiatives like the PM Surya Ghar Muft Bijli Yojana. “This, along with exemptions on critical mineral imports, underscores our resolve to lead in solar innovation. India has one of the best schemes globally for Solar rooftop installation. We are empowering communities to generate their own renewable energy,” he said.
He further added that the PM-KUSUM scheme is already transforming rural landscapes, enabling farmers to irrigate with solar power and sell surplus energy, advancing both livelihoods and sustainable agriculture. Furthermore, the Production Linked Incentive scheme is strengthening India’s solar manufacturing sector, fostering a self-reliant supply chain.
“With these initiatives, India is not just contributing to a global energy transition but is setting a benchmark for sustainable growth. I am proud to say that we are making a tangible impact on the ground. This commitment to progress aligns seamlessly with the goals of the International Solar Alliance,” said the Minister.
The International Solar Alliance (ISA), a coalition of 120 Member and Signatory countries, is guided by the ‘Towards 1000 strategy’ which aims to mobilise USD 1,000 billion of investments in solar energy solutions by 2030. It aims to deliver energy access to 1,000 million people, installation of 1,000 GW of solar energy capacity and mitigate emissions to the tune of 1,000 MT of carbon dioxide every year.
Joshi also highlighted various initiatives undertaken by the ISA. “ISA has successfully completed 21 out of 27 demonstration projects. This showcases our collective ability to make significant strides in solar energy deployment and support sustainable development across the globe,” he said.
He further added, “One of our innovative flagship initiatives in 2024 has been the launch of the Solar Data Portal. This platform delivers real-time data on solar resources, project performance, and investment opportunities across countries. It is providing transparent and actionable insights, thereby transforming how governments, investors, and developers engage with solar projects.”
Talking about another flagship initiative of ISA, the establishment of the Global Solar Facility, he said that this facility aims to unlock commercial capital for solar projects in underserved regions, especially in Africa. “With a pilot project already underway in the Democratic Republic of Congo, and commitments of USD 39 million from India, ISA, Bloomberg, and CIFF, we are on track to operationalise this initiative by COP29,” said Joshi.
In addition to this, the SolarX Startup Challenge has successfully identified and supported innovative, scalable solutions for the solar sector. “In September, we announced 30 winners from the Asia and Pacific edition, and preparations are underway to host the 3rd Edition of the challenge for the Latin America and the Caribbean region,” he said.
Besides these initiatives, ISA continues to expand knowledge-sharing. “Our monthly ISA Knowledge Series and the Green Hydrogen Innovation Centre, launched at the G20 Ministerial, are advancing solar energy research and development,” stated Joshi.
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