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India’s Green Energy Economy Gets $7.27 Billion FDI since 2014-15

India’s green energy industry received foreign direct investment (FDI) worth $7.27 billion from 2014-15 till June 2021,

  • According to the Ministry of New and Renewable Energy (MNRE) , out of $7.27 billion FDI, $797.21 million was received during 2020-21.
  • India’s renewable energy programme is driven by private sector investment.

Key Highlights:

i.As per REN21 Renewables 2020 Global status Report, during 2014 -2019 renewable energy programmes and projects in India attracted an investment of $64.4 billion ($11.2 billion has been invested in 2019 alone).

ii.India has achieved Nationally Determined Contribution (NDC) target with total non-fossil based installed energy capacity of 157.32 Gigawatt (GW) which is 40.1 percent of the total installed electricity capacity of 392.01 GW.

  • The installed power capacity from non-fossil fuels will reach up to 66 percent by 2030 

Note – India has already reached an emission reduction of 28 percent.

Renewable Energy Capacity:

i.India’s installed Renewable Energy (RE) capacity stands at 150.54 GW (solar: 48.55 GW, wind: 40.03 GW, Small hydro Power: 4.83 GW, Bio-power: 10.62 GW, Large Hydro: 46.51 GW) while its nuclear energy based installed electricity capacity stands at 6.78 GW.

  • India has the fourth largest wind power capacity in the world.

ii.As of November 2021, 52 solar parks have been sanctioned with a capacity of 37.92 GW in 14 states and a cumulative 5.7 GW solar roof top projects have also been set up in India.

India’s Target at COP26:

The Conference of Parties -26 (COP 26) was held at Glasgow, Scotland, United Kingdom (UK) where The Prime Minister Narendra Modi promised,

i.To reduce India’s total projected carbon emission by 1 billion tonnes by 2030

ii.To reduce the carbon intensity of nation’s economy by less than 45 percent between 2020- 2030

iii.To achieve the target of net zero carbon emissions by 2070.

iv.To fulfil 50 percent of India’s energy requirements with renewable energy by 2030.

v.To increase India’s Non-Fossil capacity to 500-gigawatt by 2030.

Future Requirements:

According to the Central Electricity Authority, by 2030, India’s power requirement will touch 817 GW, more than half of which would be clean energy, and 280GW would be from solar energy alone.

Recent Related News:

National Energy Conservation Day is annually observed on 14th December , organised by the Ministry of Power to create awareness about the importance of energy conservation and the benefits of replacing non-renewable resources with renewable resources.

About Ministry of New and Renewable Energy (MNRE):

Union Minister – Raj Kumar Singh (Constituency – Arrah, Bihar)
Minister of State – Bhagwanth Khuba (Constituency – Bidar, Karnataka)

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