India needs investments worth Rs 30 lakh crore over six fiscal years to meet its carbon emission reduction commitments made at the UN climate change conference, an official statement said on Thursday. India has set the target of having 50 per cent of its power generation capacity from non-fossil fuel sources. The government also aims to become a net zero carbon emitting country by 2070. Chairman and Managing Director (CMD) of Indian Renewable Energy Development Agency Ltd. (IREDA) Pradip Kumar Das addressed an international webinar organized by The World Bank, on the occasion of the release of the latest South Asia Development Update "Toward Faster, Cleaner Growth", on February 14, 2024. In his address, CMD, IREDA underscored 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.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content