India’s energy transition is central to its goal of becoming a developed nation by 2047, Prime Minister Narendra Modi said, highlighting key green energy initiatives during his third term in office.
“We have announced Viability Gap Funding (VGF) for offshore wind energy projects, committing over ₹7,000 crore. Additionally, we aim to generate 31,000 MW of hydropower, with ₹12,000 crore already approved for this,” Modi said.
He was speaking at the fourth RE-INVEST Summit in Gandhinagar, Gujarat, where states and private companies pledged to enhance renewable energy production.
“India’s diversity, scale, and potential are unmatched. That’s why I always emphasize Indian solutions for global applications,” he added to applause.
Union Minister Pralhad Venkatesh Joshi, in his address, noted the impressive growth in India’s renewable energy capacity, from 75.52 GW in 2014 to 207.7 GW today—an increase of 175% in just a decade.
Northeast Joins Renewables Push
Joshi also highlighted India’s ambitious target of 500 GW of renewable energy capacity by 2030. Leading contributors include Gujarat, Andhra Pradesh, Maharashtra, Rajasthan, and Uttar Pradesh.
The seven Northeastern states have committed to the renewable energy push: Assam (4.94 GW), Arunachal Pradesh (3.36 GW), Tripura (0.84 GW), Mizoram (0.51 GW), Nagaland (0.16 GW), Manipur (0.12 GW), and Meghalaya (0.8 GW).
Developers and manufacturers have pledged additional capacities across solar, wind, and hydrogen production, while financial institutions have committed $386 billion in financing for renewable projects by 2030.
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