Renewables to account for 65% of India's energy mix by 2030: R K Singh

Union Power Minister R K Singh said on Tuesday said renewables will account for 65 per cent of the country's energy mix by 2030.

India has 186 GW non-fossil fuel-based installed power generation capacity at present, the Union Minister of Power, New and Renewable Energy said.

"In 2015, we planned to have 40 per cent renewables in our energy mix by 2030. We achieved the target in 2021, nine years earlier," he said, adding that the share of renewable energy in the total installed power generation capacity will be 65 per cent by 2030.

Speaking at an event for the release of a book authored by ReNew Power Chairman Sumant Sinha, the minister said the speed of capacity addition of renewable energy is mind boggling.

"We have planned 50 GW renewable energy capacity addition every year," he said said.

Currently, India has 423 GW of installed power generation capacity.

The country will need 40 GW more electricity this year as the country's power demand grew at 14 per cent, Singh said.

About Sinha's book 'Fossil Free - Reimagining Clean Energy in Carbon Constrained World', the minister said it is relevant as it tells what all has happened in the sector and what needs to done today to boost renewables.

Sinha, ReNew Founder, CEO and Chairman, said India Inc's annual capex is about USD 100 billion and "half of it needs to go to renewables if we have to reach 500 GW by 2030".

India has set a target of having 500 GW of renewable energy capacity by 2030.

Sinha highlighted the importance of round-the-clock power in the context of renewable energy.

The first edition of the book was launched in 2020.