India announces plans for 500GW renewable capacity by 2030

The news were announced Tuesday June 25th, at the 17th meetnig of the International Renewable Energy Agency (IRENA) council in Abu Dhabi.

India’s ambitious plans for installing 227GW of renewable energy by 2022 took the industry by surprise and now the re-elected government plans to do it once again, with the even more ambitous goal of 500GW by 2030.

“India would have installed 175GW of RE (renewable energy) capacity by 2022 without taking into account large hydro and 225GW including large hydro. By 2030, India plans to establish 500GW of renewable energy capacity” Anand Kumar, secretary of the Ministry of New and Renewable Energy said at the IRENA council in Abu Dhabi this Tuesday.

Of the 227GW by 2022, Wind Power projects will contribute 60GW. The distribution of renewable energy sources for the 2030 plans are yet to be announced.

India has recently explored options for offshore-wind, attracting significant EOIs (Expressions of Interest) from global leaders in the industry.

As a world leader in off-shore wind, The Danish government is planning to open a Danish-Indian Knowledge Centre for the Development of Wind Energy in India. The knowledge centre is to be financed under the Danish Finance Act, and the plan is to allocate EUR 7.4 million over the next five years, read more here

At IDCC’s seminar on the very same topic last fall, Denmark’s Ambassador to India, Peter Taksøe-Jensen said this about the opportunities for Danish companies:

“India’s very ambitious targets for implementation of renewable energy makes the country one of the largest and most important markets in the coming years. Outside the massive expansion of onshore wind- and solar energy, India has set aggresive targets for the implementation of offshore wind. The latter is an area where Denmark and Danish companies have build up great expertise and been on the forefront of bringing down costs. That is why, right now, India offers some of the greatest opportunities for Danish companies globally.”

India currently has an installed renewable energy capacity of around 80 gigawatts

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