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India is well on its way to achieving the aim of 65% of power generation from non-fossil fuel sources by 2030 and will achieve more than that, Union Minister for Power and New & Renewable Energy RK Singh said on Monday, while addressing a CII conference.

The minister further informed that India will achieve 90 GW of solar equipment manufacturing capacity by 2030. Currently, the country has 20 GW of such capacity and 15-20 GW of the solar manufacturing capacity is under construction.

"We shall have 90 GW plus solar manufacturing capacity by 2030 right from the polysilicon to modules. We already have 20GW (solar manufacturing capacity) and 15-20 GW of solar manufacturing capacity is under construction. We will further have 40 GW of solar manufacturing capacity (addition), which is going to come under Solar PLI-II," he said.

He also urged the players in the industry to start manufacturing high-efficiency solar equipment.

"We will not just reach 65 percent (from renewable energy by 2030), we will have more than that (65 percent capacity)...We have pledged 50 percent (power generation capacity from non-fossil fuels) by 2030. We will reach (over) plus 65 percent," the minister said.

Currently, India has 170 GW of renewable energy and another 80 GW is under construction. The country aims to achieve 500 GW by the year 2030.

"We have pledged that we would do (reduce it by) 33 percent by 2030 ( from the level of 2005). We are already at 30 percent, in fact at 31 percent...we will do (reduce emission intensity by) 45 percent by 2030," he said talking about the reduction in emission intensity.

The minister also touched upon the green hydrogen manufacturing capacity and informed that the industry has shown interest in 25 million tonnes of green hydrogen capacity, a number which can easily cross 35-40 million tonnes.

He also stressed the need of opting for green hydrogen rather than decarbonized hydrogen, which may involve methane and carbon dioxide emissions.

Within a week, the Ministry of New and Renewable Energy plans to release bids for the 19,500-crore second tranche of the production-linked incentive (PLI) scheme, the secretary of the ministry Indu Shekhar Chaturvedi informed.

"Now, if you consider PLI-II (worth 19,500 crore), for which we are confident that the bid will be issued within a week….the scheme guidelines have already been published," he said.

“Getting carbon neutral requires intense international support and a series of calculations, financing and technologies of the entire scaling up to be able to meet the climate commitments," said CII Director General Chandrajit Bannerjee.

 

 

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Updated: 17 Oct 2022, 05:25 PM IST
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