India needs $223 bn to meet 2030 renewable Capacity Goals

Published on June 23, 2022
Current Context: According to a BloombergNEF India will need USD 223 billion of investment to meet its goal of wind and solar capacity installations by 2030.
India needs $223 bn to meet 2030 renewable Capacity Goals
  • The government has set a target of increasing non-fossil power capacity to 500 GW by 2030.
  • It wants non-fossil fuel power sources to provide half of its electricity supply by 2030.
  • India plans to reduce emission intensity by more than 45% by 2030 to below 2005 levels. He also announced a net-zero by 2070 target.
  • Central Electricity Authority expected that the country’s reliance on coal to drop from 53% of installed capacity in 2021 to 33% in 2030.
  • Apart from that government scaling up financing to meet 2030 goals requires Independent Power Producers to tap into new or underutilized sources of capital.
  • Many players like revolving construction debt, investment infrastructure trusts and for retail investors, insurance companies, and pension funds contribute funds.


Q.1 Government has decided to increase non-fossil power capacity to 500 GW by which of the following year?
a. 2040
b. 2030
c. 2025
d. 2070

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