India invites global investors to tap opportunities in country’s renewable energy space

The Union Minister of State for New and Renewable Energy has invitedglobal investors to invest in India’s renewable energy (RE) industry

Currently around $196.98 billion worth of projects are underway in India.India has seen incredible growth of RE capacity in last seven years and has achieved target of 40 per cent cumulative electric capacity from non fossil fuel in 2021, 9 full years ahead of set target of 2030. The country is committed to promoting domestic manufacturing in the solar photovoltaic (PV) sector to achieve its ambitious deployment goals. Several policy measures have been undertaken to support the domestic PV manufacturing sector.India is committed to increase domestic manufacturing of high efficiency solar PV modules for which total budget outlay of Rs 240 billion is made. Further, to promote green hydrogen economy India has estimated outlay of Rs 254.25 billion. The Green Hydrogen Mission has expected outcome of generating 4.1 million tonnes of annual green hydrogen production.

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