India's Green Revolution: A ?12 Million Investment for Renewable Energy by 2030

05 Dec 2023 CW Team

In a groundbreaking move towards sustainable energy, India aims to invest ?12 million in the renewable energy sector by 2030, as revealed by the Chairman of the Indian Renewable Energy Development Agency (IREDA). The ambitious plan underscores the nation's commitment to combating climate change and transitioning to cleaner alternatives. The funds, primarily sourced from the Non-Banking Financial Companies (NBFC) sector, will play a pivotal role in accelerating the adoption of renewable technologies. The IREDA chief emphasized the critical role of NBFCs in supporting this initiative. The financial infusion is expected to drive the development and implementation of solar, wind, and other renewable projects, contributing significantly to India's energy landscape. This initiative aligns with the country's larger vision of achieving a substantial share of renewable energy in its overall power generation.

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