The New Year is set to see renewable energy growth, coal fired capacity addition, solar manufacturing expansion, and the commissioning of major hydropower projects.
Renewable energy investments to surge 83% to $16 5B in 2024 yourstory.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yourstory.com Daily Mail and Mail on Sunday newspapers.
This is in line with India s ambitious target of having 500 GW of renewable energy by 2030 and its resolve to reduce overall power generation capacity from fossil fuels to less than 50 per cent. India has committed a net zero emission target by 2070.
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In an interview to PTI, R K Singh said, "India is likely to witness 25 GW of renewable energy capacity addition entailing an investment of Rs 1,37,500 crore (about USD 16.5 billion) in 2024 calendar year, which would be higher than 13.5 GW with an investment of Rs 74,250 crore (nearly USD 9 billion) seen in 2023."