India Calls for Global Cooperation to Scale Renewable Energy

• Pralhad Joshi urged global cooperation at the IRENA Assembly to help developing nations scale renewable energy without hindering development
• He said India will need about USD 300 billion by 2030 and remains a top destination for clean energy investment due to stable policies
• Joshi highlighted people-focused initiatives like PM Surya Ghar and PM-KUSUM, benefiting millions of households and farmers

Recently, Union Minister for New and Renewable Energy Pralhad Joshi emphasized the importance of international collaboration to the maximum extent in order to assist the developing nations in increasing the renewable energy capacity even if it means deterring the latter's development goals.

The Minister spoke at the 16th Assembly of the International Renewable Energy Agency (IRENA) held in Abu Dhabi, and he stated that the global energy transition would require a huge investment, cooperation, and compliance with regulations.

According to him, India will need almost USD 300 billion in investments by 2030 alone, which will create a huge demand and opportunities for the renewable power generation, energy storage, green hydrogen, grid modernization, and clean energy manufacturing sectors.

Praising India's policy stability and market openness, Joshi declared that India is still among the most sought-after places for investment in clean energy.

“Calling for enhanced international cooperation, Shri Joshi stressed the importance of technology transfer, access to low-cost finance, capacity building and harmonisation of standards, particularly to support developing countries in scaling up renewable energy without compromising development aspirations”, Joshi stated.

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The Minister, while reiterating the commitment of India to the global renewable energy transition, offered to share the country’s experience, institutional frameworks as well as professional knowledge with IRENA, especially the less developed countries and small island developing countries, and thus, the transition at the global level will be faster.

He pointed out that India’s energy transition strategy is not limited to complicating matters by just increasing the capacity but it is rather giving priority to the aspects of enhancing the quality of life, opening up possibilities and the like, and eventually, a common and a sustainable future would be realized.

Mentioning major government schemes, Joshi informed about the PM Surya Ghar Muft Bijli Yojana that within two years has already made it possible for the installment of rooftop solar systems for about 2.5 million households and the target is to reach 10 million households by the end of March 2027.

He added that the PM-KUSUM plan has assisted around 2.17 million farmers by the substitution of diesel pumps and solarizing agricultural feeders, thus underscoring India’s resolve to be at the forefront of clean energy initiatives that are both inclusive and sustainable.