India needs $220 billion for green power transition by FY30

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The MNRE is developing a framework for allocating geothermal exploration rights along the lines of the hydrocarbons sector. | Photo Credit: The Hindu

India’s renewable energy sector will require $220 billion in investment between FY27 and FY30, spanning generation, transmission, manufacturing and emerging green technologies, Santosh Sarangi, Secretary, Union Ministry of New and Renewable Energy (MNRE), said on Wednesday.

“From [fiscal year] 2027 and 2030, in different sectors [of renewable energy] we would require $220 billion of investment,” he told reporters at the curtain-raiser for the Bharat Renewable Energy Summit & Expo (BRESE) 2026.

Solar energy will account for $70-75 billion of the requirement, followed by transmission infrastructure at $40-45 billion, wind energy at $25-30 billion and green hydrogen at $20-25 billion.

Manufacturing will require another $15-20 billion, officials said.

The sector attracted about $64 billion in private investment between July 2024 and June 2026, including $6.2 billion in foreign direct investment.

The government separately infused $6 billion to support renewable energy development.

Mr.

Sarangi said Indian green hydrogen developers had secured orders to supply 5.5 lakh tonnes through 2026.

Green hydrogen could find significant applications in direct reduced iron (DRI) steelmaking, shipping and road transport, while the European Union, Japan and South Korea were exploring supplies of green ammonia and green methanol.

The Indian Council of Agricultural Research, in collaboration with the National Green Hydrogen Mission, is evaluating green ammonia as a potential substitute for urea in a pilot spanning 10,000 acres in six States, covering 10 crops.

The ministry is also developing a framework for allocating geothermal exploration rights along the lines of the hydrocarbons sector.

“That framework Additional Secretary is working on, and it should be ready within a month or two,” Mr.

Sarangi said in a response to a query from The Hindu.

He added that the government recognised the need to accelerate battery energy storage system deployment to manage electricity distribution companies’ peak demand.

Prime Minister Narendra Modi is scheduled to inaugurate the four-day BRESE 2026 on November 2, with delegations expected from Australia, the UK, France, Germany and Norway.

It is also expected to see the presence of State delegation, including chief ministers of Madhya Pradesh, Assam, Maharashtra, West Bengal, Odisha, Bihar, Andhra Pradesh and Rajasthan.

renewable energy / solar / wind energy / alternative energy / economy, business and finance / energy resources / energy and resource / energy saving / natural resources

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