India needs $220 billion investment to achieve 500 GW clean energy target by 2030

New Delhi: India will need around $220 billion in investment between 2027 and 2030 to achieve its target of 500 GW of non-fossil fuel capacity, alongside faster deployment of energy storage, stronger transmission networks and expanded domestic manufacturing capacity, renewable energy secretary Santosh Kumar Sarangi said on Wednesday.

"Between July 2024 and now, a total investment of nearly $64 billion has come into the renewable energy sector, of which about $6.2 billion has come through foreign direct investment (FDI)," Sarangi said while addressing the media ahead of the Bharat Renewable Energy Summit & Expo.

The four-day event, beginning November 2, is expected to bring together participants from more than 130 countries, including policymakers, investors, financial institutions, manufacturers and representatives of multilateral organisations.


The International Solar Alliance Assembly and the International Conference on Green Hydrogen will also be held alongside the summit.

One of the summit's key focus areas is to identify a roadmap for mobilising the $220 billion in investment required over the next four years, Sarangi said.

"The idea is to discuss with investors opportunities that could attract greater private investment in the sector through government policies and schemes," he said.