India’s Green Energy goal

India's power sector is undergoing a significant transformation, with a focus on increasing renewable energy capacity. It has come a long way since 2000 from where 700m people have gained access to electricity

.Currently, India has an installed capacity of 430 gigawatts (GW), and is currently the 3rd largest producer of energy globally after china & US. The thermal power contributes 56% and renewable energy 42%. The country aims to achieve 500 GW of renewable energy capacity by 2030 which is a 3 fold jump from today.. Currently, the capacity of renewable energy stands at 180 GW, indicating a substantial growth trajectory to meet the 2030 target. This shift towards renewable energy reflects India's commitment to sustainable development and reducing its carbon footprint.

To reach the target of 500 giga watts there has to be a growth of 33% in the solar sector as it has to reach a full fold up swing in the next seven years. Target of achieving wind installation is even more challenging with the installed capacity of 42.6 gw, growth in the last six years have been less than 5% where the required growth is around 20%. 

Daunting task is to accelerate action point and the supply chain . a single source country for solar cells and modules needs to be reduced. Skilling adequate manpower right from manufacturing to maintaining solar stations has to have a closer look. the young big population requires skillset . Land availability is also a pain point.

 reaching the green energy go through non-fossil fools by 2030 is a daunting task, but it is achievable with proper policies and efficiency.

About the Author : Suman Agarwal, an equity expert who offers guidance and recommendations on how to invest.