- According to a study published recently, the electricity consumption of India is slated to grow at a yearly rate of 5.4 percent over the next decade, with the annual demand growing up to 2,300 billion units (BUs) by 2030
- The country is apparently on the right path to achieve its goal of having 50% of energy needs with 165 GW generation capacity already arranged via the renewable portfolio, says the ADL report
As per the ADL (Arthur D Little) report, to complete the target of 500-gigawatt renewable energy capacity by 2030, India will require an additional investment of nearly $300 billion.
The report known as ‘Powering India’s Energy Vision 2030’ also stated that the nation is on the right path in meeting its commitment of having 50% of energy needs via the renewable portfolio with 165 gigawatts (GW) generation capacity already established.
The study headlined ‘Powering India’s Energy Vision 2030’ added that India will require an additional strategic investment of about $300 billion to accomplish its target of clean energy capacity of 500 GW by 2030.
As per the study, the electricity consumption of India is slated to increase at an annual rate of 5.4% over the next decade, with the yearly demand touching 2,300 billion units (BUs) by 2030.
However, in light of the current pace, it said that the generation is expected to reach only 2,024 BUs by 2030.
Meanwhile, the G20 summit, scheduled to take place under India’s presidency in September 2023, is slated to surpass a marquee declaration for ensuring energy and supply chain security, stated two government officials close to the matter.
It has also been reported that this development has surfaced owing to the supply disruptions in China and Russia-Ukraine war.
Source credit - https://www.livemint.com/news/india/india-need-300-billion-investment-to-meet-500-gw-green-capacity-by-2030-report-11667811265572.html