India Leading With Global Energy Trends, Says Union Minister Prahlad Joshi
The minister said that India is targeting 50% of its energy requirements from non-fossil fuel sources and has already achieved some of the goals that were set for 2030.
Union Minister of New and Renewable Energy, Prahlad Joshi, said India is undergoing a major boost in its power sector, with energy generation becoming increasingly decentralised. He was speaking at an event organised by the Indian Venture and Alternate Capital Association (IVCA).
Joshi stated that global energy trends—particularly the shift towards renewable and distributed generation—are now being seen in India. He said that companies like Reliance and others will play a role in distributing energy directly from households and smaller units.
The minister said that India is targeting 50% of its energy requirements from non-fossil fuel sources and has already achieved some of the goals that were set for 2030.
According to data shared at the event, solar energy capacity has increased from 2.8 GW in 2014 to 270 GW in 2024, while wind energy capacity has risen from 21 GW to 51 GW over the same period. Joshi attributed this growth to policy shifts and capacity-building initiatives.
He referred to the government’s Rs 20,000 crore allocation under the National Green Hydrogen Mission. Trials for India’s first hydrogen-powered heavy-duty trucks are underway, and green hydrogen is being introduced in sectors such as power, refining, fertiliser, and transport, he said.
On renewable infrastructure, Joshi pointed to Gujarat’s Kutch district, where a 30 GW solar-wind hybrid park is being developed. He also noted growing international interest in Rajasthan’s solar parks.
Commenting on India’s global economic positioning, Joshi said the country is moving toward becoming the third-largest economy. “We have to compete with countries like China and the United States in the coming days,” he said.
He added that solar power tariffs have declined from Rs.11 per unit in 2010-11 to Rs. 2.15 per unit in a recent Madhya Pradesh tender. The minister said this fall in cost is indicative of broader changes in the power sector.
Joshi said inter-ministerial work is ongoing to resolve issues related to the use of defence land for renewable energy projects. He also identified battery storage and scaling up domestic solar and wind manufacturing as immediate priorities for ensuring system stability.
