The investments’ in renewable energy is one of the most important global actions to reduce your impact on the environment. Electricity production is our number one source of greenhouse gases green energy is a key and right step to reducing our impact on climate change and creating a sustainable energy future.
India ranks 3rd in the green renewable energy country index in 2022 and 3rd largest energy consuming country in the world.
Indian government and private companies has set an ambitious target to achieve a capacity of 175 GW worth of renewable energy by the end of 2022, increasing capacity to 500 GW by 2030. This is one of the world’s largest expansion plan is in renewable energy.
According to report by Indian Ministry of energy; India was the second largest market in Asia for new solar PV capacity and third globally (13 GW of additions in 2021). It ranked fourth for total installations (60.4 GW), overtaking Germany (59.2 GW) for the first time.
India’s installed renewable energy capacity has increased over 400% in the last 9 years and stands at more than 159.95 Giga Watts (including large Hydro), which is about 40% of the country’s total capacity in 2022. The installed solar energy capacity has increased by 19.3 times in the last 8 years, and stands at 56.6 GW as of 1st June 2022.
The installed Renewable energy capacity (including large hydro) has increased from 76.37 GW in March 2014 to 159.95 GW in May 2022, i.e. an increase of around 109.4%.
India has achieved its NDC target with total non-fossil based installed energy capacity of 159.95 GW which is 41.4% of the total installed electricity capacity.
India is planning to export green hydrogen. “We are in a position to make green hydrogen as our main source of energy in the future,” Prabhat Kumar, an additional secretary of the external affairs ministry, said at an industry event.
Green hydrogen is made by breaking down water using electricity from renewable sources, which is considered cruc ..
India’s richest men Gautam Adani and Mukesh Ambani and Indian state energy giants have committed large investments in the green hydrogen value chain, responding to Prime Minister Narendra Modi’s ambition to make the country a global powerhouse in this area.
The Adani Group will invest $70 billion in the green transition and infrastructure projects, said chairman Gautam Adani one of the world’s richest man.
Mr: Andani said “reshaping India’s energy footprint in an extraordinary way” “The best evidence which showcased our confidence and belief in the future is our investment of $70 billion in facilitating India’s green transition. We are already one of the world’s largest developers of solar power. Our strength in renewables will empower us enormously in the effort to make green hydrogen the fuel of the future,”
The conglomerate led by Mukesh Ambani one of the world’s richest man, announced plans to invest $76 billion toward clean energy projects.
“We have a 15-year vision to build Reliance as one of the world’s leading New Energy and New Materials company.The New Energy business based on the principle of Carbon Recycle and Circular Economy is a multi-trillion opportunity for India and the world.
“It is also an opportunity to make clean and green energy abundantly available at an affordable price to every Indian, every Indian enterprise, and every Indian utility. More than a business, this is our seva to save Planet Earth from the ravages of climate change.” said Mukesh D. Ambani Chairman and Managing Director, RIL.
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