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BusinessEnergy

Renewable investment will top $220 billion needed for 500 GW by 2030, says Pralhad Joshi

Closing the four-day Bharat Renewable Energy Summit in New Delhi, the minister said India could reach its clean power target ahead of schedule.

From the editorial desk · New DelhiPublished
Union Minister Pralhad Joshi at a press conference in New Delhi (file photo)
Union Minister Pralhad Joshi at a press conference in New Delhi (file photo)Ministry of Coal / Wikimedia

Key points

  1. India needs $220 billion to add 190 GW of non-fossil capacity by 2030, and Joshi expects investment to exceed that.
  2. Installed non-fossil capacity stands at 310 GW against a 500 GW target.
  3. A battery policy is being prepared on the Prime Minister's instructions.

India’s investment in clean power will exceed the $220 billion it needs to reach its 2030 target, Union Minister for New and Renewable Energy Pralhad Joshi said in New Delhi on Thursday, November 5, 2026.

Speaking at a press conference that closed the four-day Bharat Renewable Energy Summit and Expo 2026, Joshi said the money is needed to add the remaining 190 GW of non-fossil capacity. India has about 310 GW installed against a 500 GW goal, and the minister said the country is “confident of achieving the 500 GW milestone, perhaps even ahead of schedule.”

He pointed to how fast the build-out has sped up. “To achieve first 100 GW, it took 7 decades,” he said, adding that “the next 100 GW was added in 2 years.” About ₹7 lakh crore has come into the sector over the past two years through domestic funds and foreign direct investment, and renewables met more than a quarter of the country’s electricity use last financial year.

Batteries and waste

Joshi said Prime Minister Narendra Modi “has asked us to bring a good policy, including for batteries,” and that India had learned from past supply chain shocks. The government is also preparing plans to add another 300 GW beyond 2030.

Ministry Secretary Santosh Kumar Sarangi said the ministry is drafting guidelines for recycling solar modules. “We are trying to formulate the guidelines as quickly as possible,” he said. Under current rules, waste solar modules must be stored until 2035, when there should be enough volume to recycle them.

The summit drew participants from more than 135 countries, including 32 foreign ministers and six chief ministers, the ministry said.

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