Eyeing investments of up to USD 200 billion, the government is looking to more than double the share of renewable sources to over 15 per cent in the country's overall energy basket in about a decade, Union Minister Piyush Goyal said today.
At present, renewable energy has a 6 per cent share.
"What we inherited is a mere six per cent share of renewable energy in the India energy basket...And we are looking to expand the frontiers of renewable energy in the energy basket of India to over 15 per cent in the next 10 or 12 years," Power, Coal and Renewable Energy Minister Piyush Goyal said during the first Renewable Energy Global Investors Meet (RE-Invest).
He further said that Prime Minister Narendra Modi has visualised that "we should have a five-fold increase in the country's mission for renewable energy...That will take India into the sphere of being one of the largest renewable energy countries in the world."
Stating that the first renewable energy global investors' meet will play a major role in taking India to international standards, Goyal exuded confidence that the conference will usher in green and clean and energy secure India.
"We are organising Re-Invest with a triple aim in mind. Showcasing India's renewable energy potential to the world and attracting investments which may go up to 200 billion dollars looking at the enthusiastic support we have received from great parts of India and all over the world," he said.
The government had earlier said that it aims to have 1,00,000 MW of installed solar power capacity by 2022 from the present around 3,000 MW.
Goyal had said the government is also looking at rooftop solar model. "We are not only looking at large plants so 40,000 MW we are planning to do through rooftop solar."
The Ministry of New and Renewable Energy is organising Renewable Energy Global Investors Meet & Expo (RE-Invest) from 15-17 February in New Delhi. The central theme of RE-Invest is to attract large scale investments for the renewable energy sector in India.
