India needs $300 bn more to meet 500 GW green capacity target by 2030: Report

A research showed that India will require an additional investment of over USD 300 billion to reach its goal of 500 gigawatts of renewable energy capacity by 2030. According to the Arthur D Little (ADL) study which released on Monday, the nation is on track to reach its objective of meeting 50% of its energy needs through renewable sources with 165 gigawatts (GW) of generation capacity already installed.

"India needs (additional) strategic investments of over USD 300 billion to achieve its clean energy capacity target of 500 GW by 2030," the study titled 'Powering India's Energy Vision 2030' said.

As per the study, India's electricity consumption is expected to grow at an annual rate of 5.4 per cent over the next decade, with annual demand touching 2,300 billion units (BUs) by 2030.


However, at the current pace, generation will reach only 2,024 BUs by 2030, it said.

Inputs from PTI