Indian market of renewable energy is seeking a fortune of around INR 1 lac crore ($20 bn) per year, in a recent event RE-Invest 2020, Prime Minister Narendra Modi said.
Speaking of green energy, clean energy our prime minister also included the recently announce PLI scheme for higher efficiency solar modules. India is travelling on an unparallel journey of reaching its goals. In past six years India reached from megawatts of renewable energy to gigawatts of green & clean energy. Expanding generation capacity & network to ensure every citizen has access to electricity Indian government is adopting own sets of actions. India is growing fastest in renewable power generation sector among various major countries & emerged as 4th largest nation of renewable energy in the world. Renewable energy capacity in India is currently 136GW which is actually only 36% of our total capacity. India is aiming to increase its capacity up to 220GW by 2022. India is well focused to have concern over climate change.
India already received around INR 5 lac crore ($64 bn) investment in renewable energy sector as per our respected prime minister. Our Prime Minister also urged other nations to invest in Indian renewable energy sector, counted on ease of doing business & foreign investment policy for renewable sector. Through this track of business development & direct foreign investment government is seeking to build it as $20bn market.