India needs Rs 30 lakh crores investment during FY 2024-2030 to meet Nationally Determined Contributions goals

Chairman and Managing Director (CMD) of Indian Renewable Energy Development Agency Ltd. (IREDA) Pradip Kumar highlighted in a speech the critical need for substantial investment to meet Indias Nationally Determined Contributions (NDC) goals by 2030, stating that the investment required is estimated to be Rs. 30 lakh crores over the period FY 2024-2030. Investment is required in manufacturing of capacity for Solar, Electrolysers, Wind & Battery; Transmission, Green Hydrogen, Solar, Hydro, Wind, and Waste to Energy sectors, he added. The CMD said that India's rise has been a role model for Renewable Energy development worldwide, several initiatives of the government such as Renewable Purchase Obligations (RPO), PM-KUSUM scheme, Must-run status for RE assets, PLI scheme for Solar PV manufacturing, and the allowance of up to 100% FDI under the automatic route for renewable energy.

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