India is moving towards meeting its target of producing 450 GW of renewable energy by 2030. Renewable energy consumption is expected to increase in the country due to reforms related to electricity distribution and promotion of open access to electricity grid in the country.
Union Minister RK Singh has invited American investors to explore investment opportunities in the renewable energy and power sector in India. In an interaction with American investors through video conferencing, Singh invited them to invest in India. He also highlighted India’s achievement in this field during his meeting with the business community. The meeting provided an opportunity to the business community to interact with the Union Minister on various aspects of renewable energy and power sector in India and related opportunities available to global investors, a statement from the Ministry of Power said.
The theme of Singh’s meeting with members of the US-India Business Council (USIBC) was to promote cleaner, more sustainable and affordable energy to mitigate climate change and accelerate India’s economic growth. According to the statement, more than 50 industrialists from various sectors of the economy including information technology, infrastructure developers, renewable energy producers, banking, aviation participated in this meeting.
Aim to generate 450 GW of renewable energy by 2030
Energy Minister RK Singh has said that India is moving towards meeting its target of producing 450 GW of renewable energy by 2030. Renewable energy consumption is expected to increase in the country due to reforms related to electricity distribution and promotion of open access to electricity grid in the country. He mentioned about renewable energy, energy efficiency, reduction in emissions etc. and along with this he appealed to the investors to contribute in this.
He also told the investors that the Government of India has started Production Linked Incentive Scheme (PLI Scheme) for manufacturing of solar cell modules and batteries etc. in the country. Along with this, efforts are also being made to promote green hydrogen.
He requested the leaders of the US India Business Council to suggest ways to boost the renewable energy sector so that the Indian government can achieve the target of 450 GW of renewable energy generation by 2030.
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