India Eyes 500 GW Renewable Energy by 2030: Minister Pralhad Joshi

Union Minister for New & Renewable Energy Pralhad Joshi stated on Thursday that India is progressing towards reaching the 500 GW renewable energy goals by 2030, having secured investment commitments amounting to Rs 32 lakh crore. 

Speaking at the Times Now Summit 2025, Joshi mentioned that there are renewable energy project bids available for a capacity of approximately 169 GW, and the nation has surpassed 223 GW of non-fossil-fuel capacity, comprising 103 GW of solar and nearly 50 GW of wind capacity. He mentioned that the government has introduced viability gap funding for offshore wind projects. "We are quite on track ... I am quite confident that we will achieve 500 GW by 2030 and we are the third largest producer of renewable energy in the entire world," Joshi said.

The minister stated that there are investment pledges amounting to Rs 32 lakh crore in the domestic renewable energy sector, which is expanding at a robust rate.

"We have received a commitment of Rs 32 lakh crore investments. I am quite confident that this will be realised. The banks are also enthusiastic because anyone would look at profit and investing here is profitable," he said.

He also mentioned that a comprehensive workshop with CEOs and MDs from both private and public sector banks, as well as NBFCs and their leaders, was held recently to inform them about opportunities in financing green projects.