India on track to achieve 500 GW renewable energy target: Pralhad Joshi
Last Updated: Mar 27, 2025, 06:49:00 PM IST
India is on track to achieve its 500 GW renewable energy target by 2030, with Rs 32 lakh crore investment commitments. Union Minister Pralhad Joshi highlighted the progress, including 223 GW of non-fossil-fuel capacity. Renewable energy project bids cover 169 GW, and the government is supporting offshore wind projects with viability gap funding.
India is on track to achieve the 500 GW renewable energy target by 2030 as investment commitments of Rs 32 lakh crore have been received, Union Minister for New & Renewable Energy Pralhad Joshi said on Thursday.
Addressing a session at Times Now Summit 2025, Joshi said renewable energy project bids are out for a capacity of around 169 GW, and the country has crossed 223 GW of non-fossil-fuel capacity, including 103 GW solar and nearly 50 GW wind capacity.
He also said that the government has come out with viability gap funding as far as offshore wind projects are concerned.
"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.
According to the minister, there are investment commitments of Rs 32 lakh crore in the domestic renewable energy sector which is growing at a healthy pace.
"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.
Live Events He further said that a detailed workshop with CEOs and MDs of both private and public sector banks, and NBFCs and the heads was conducted recently to apprise them about opportunities in green project financing .
The Cabinet has approved a Rs 7,145.14 crore, 117.7-km access-controlled greenfield highway between Kanpur and Kabrai on NH-34 in Uttar Pradesh. The BOT toll project is designed to cut travel time from 3.5 hours to 1.5 hours, strengthen links to the Kabrai mining belt and Bundelkhand corridor, and lower logistics friction for freight, construction material and agricultural movement.
NHAI has launched Multi-Lane Free Flow tolling at Manoharpura Toll Plaza on the Delhi-Jaipur section of NH-48 in Rajasthan. The barrier-free FASTag and ANPR system matters because it cuts toll-stop idling on a busy highway corridor, but users now need proper FASTag balance and must clear any e-notice within 72 hours to avoid double charges.
India has reset windfall-linked export duties from July 1, 2026 by raising the levy on petrol exports to Rs 4 per litre while cutting diesel and aviation turbine fuel export duties to Rs 8.50 and Rs 7.50 per litre respectively. The move matters because it changes refining economics, export incentives and the downstream pressure points that can eventually shape domestic fuel availability, airline costs and broader transport pricing.
State-run oil companies cut the 19-kg commercial LPG cylinder price by Rs 183.50 from July 1, 2026 and reduced aviation turbine fuel by Rs 5 per litre to about Rs 110 in Delhi. The move offers relief to restaurants, hotels and airlines, but household LPG, petrol and diesel users are still waiting.
