New Delhi: An investment of up to Rs 30 lakh crore is expected to meet the country’s target of having 500 GW renewable energy capacity by 2030, Union minister Pralhad Joshi said in Rajya Sabha on Tuesday.
Renewable energy is among the top priorities of the Prime Minister Narendra Modi-led government, he said, adding that it is evident from the fact that the outlay has been doubled in the budget this year to over Rs 20,000 crore.
“India has witnessed a significant shift in the investment Dynamics of Renewable energy projects. Around 7 lakh crore in the last 10 years has already been invested,” said the minister for new and renewable energy, while replying to a discussion on his ministry’s work.
He further said: “To set up a non-fossil fuel-based capacity of 500 GW, (investment of) Rs 30 lakh crore is expected.”
During his over one-hour reply, the Opposition walked out of the house objecting to his remarks on the Congress party over its relationship with China.
Taking a dig at the Congress party, the minister said in 10 years between 2004 and 2014, the investment was not even Rs 3 lakh crore.
Between 2004 and 2014, when the entire world was discussing and developed renewable energy, the total expenditure was Rs 6,091 crore only.
“While the budget for this year (for his ministry) is over Rs 21,000 crore,” he said, adding in the last 10 years “the total expenditure is Rs 36,952 crore”.
Moreover, orders have also been placed for schemes such as PM Surya Ghar, PM Kusum, National Green Hydrogen Mission, viability gap funding (VGF), and PLI for solar modules.
“This all will translate into Rs 1.60 lakh crore,” he said, adding the government is working on Pachamrit commitments, in which it has targeted to achieve non-fossil energy capacity of 500 GW by 2030 and reach the net-zero carbon emission goal by 2070.
During the discussion, opposition members raised doubts and asked as how the government would achieve the target of 500 GW from renewable energy by 2030 as the current capacity was 200 GW only.
Replying to that, Joshi told the members to have hopes and said: “We have taken it to 200 GW and will achieve 500 GW also.”
Total renewable energy generated in India in the last 10 years has increased from 193.5 billion units to 359.89 billion units.
Solar power tariffs, which were almost at Rs 11 in 2010-11, now have come down to Rs 2.60/unit in 2023-24. This has been helped by schemes such as PLI (production linked incentive) schemes encouraging domestic manufacturing.
“Now India is at the 4th position globally in terms of installed capacity,” the minister said, adding India is also at 4th position in wind capacity and 5th in Solar PV capacity.
The total installed capacity of solar power as on date is 85.4 GW and the latest tender of 74.34 GW and 104 GW capacity is under implementation, the minister said.
Besides, the “total installed capacity which is in pipeline is 256.02 GW”, he said.
The government has taken several policy reforms also. The ministry is implementing a Rs 24,000-crore Production Linked Incentive (PLI) for the selected solar PV module manufacturers for five years post-commissioning of production as well as on the manufacturing and sale of high-efficiency solar PV modules.
“Letter of awards have already been issued for the setting of 48,337 MW partially or fully manufacturing capacity of high-efficiency solar PV modules. The manufacturing capacity awarded is scheduled to commence from October 2024,” he added.
Now 100 per cent FDI (foreign direct investment) is permitted through automatic route for the sector.
“Including the nuclear energy, currently India has a pipeline capacity of 427.56 GW,” he said.
In response to Congress member Ranjeet Ranjan’s comment — “Modi Chini Bhai Bhai” (Modi and Chinese are brothers), Joshi said that the remark has come from a member of a political party which took donations from China to run their party.
“In 1962 we lost 34 square kilometres of land. They said “Modi Chini bhai bhai”. They are the people. The party that has taken donations from China to run their party, preaches to us. When they were in opposition, they secretly met who? Chinese ambassador,” Joshi said.
Ranjan had said that the renewable energy sector is dependent on imports from China when she commented “Modi Chini Bhai Bhai”.
The minister said that the (opposition) members did not acknowledge the heroic rise of the country’s position to 4th in solar and 5th in renewable energy globally.
The opposition objected to Joshi’s remark and urged deputy Chairman Harivansh to ask the minister to authenticate his remark. The deputy chairman said the minister is not yielding.
Opposition members then walked out of the house but Joshi continued his attack on them.
He said opposition members level allegations without facts and don’t have patience to listen.
The minister said the GST rate was revised from 5 to 12 per cent based on demand from the sector.
Participating in the debate Ramji from BSP said 57 per cent solar panels come from China and are of bad quality. The country has no expertise in this. Wind energy also needs to be explored as only selected companies are allowed.
Abdul Wahab, IUML, and Sangeeta Yadav, BJP, also participated in the discussion.
Ramgopal Yadav, SP, asked the government to reduce the formalities for grant of concessions under PM Kusum Yojna, saying that it takes over a month time.
