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India’s Two-third of Renewable Energy by year 2030 would be from Solar

31 August 2021: 450 GW of renewable energy target the central government has aimed to achieve by year 2030, almost 2/3rd of the same would come from solar energy stated Minister of State for Renewable Energy, Bhagwant Khuba at the virtual event organized by Associated Chambers of Commerce and Industry of India (ASSOCHAM).

Speaking at the event, Khuba stated that this is a huge opportunity for business houses to tap the sector for the period of next nine years. “India till recently was only importing the solar power manufacturing equipment to generate solar power, however, a lot has changed since then. The central government has adopted a 360-degree view to address all the issues and clear all the roadblocks to achieve the target,” He explained.

Khuba informed that the government wants to achieve self-sufficiency or Aatmanirbharta in the field of renewable energy. “The government is also putting together a policy framework in this regard. However, I firmly believe that all this is not possible without the active participation of all the stakeholders,” He said.

Amitesh Sinha, Joint Secretary to the Government of India, Ministry of Renewable Energy stated that India has a clear road map on part of demand visibility. “So, solar energy would contribute almost 300 GW to the renewable energy target that the country aims to achieve. India needs to add around 25 GW of Solar energy capacities every year. Apart from this, we are also moving towards a green hydrogen ecosystem,” he said.

He also explained that the government is now focusing its attention on solving the supply side problems on how manufacturing equipment can be supplied and how India can become Aatmanirbhar in this particular sector. “The earlier efforts were not encouraging to the solar equipment manufacturers. Now with the government deciding to impose 40% basic customs duty on solar modules and 25 percent on solar cells from 1st April 2022, imports would become more expensive and local manufacturing would be encouraged,” he said.

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