Renewable energy in India will be mandatory.. What's the story?

Weather of Arabia - The use of renewable energy in India has witnessed remarkable developments, with the announcement of recent amendments to the law on rationalization of energy consumption. Within the framework of these amendments, the regulation obliges consumers to use electricity produced from a specific group of renewable energy projects in specific percentages that gradually increase from the year 2024 until reaching the year 2030. This step comes within the framework of directing efforts towards enhancing the use of renewable energy in India, with the aim of achieving the goals set by New Delhi in reducing carbon emissions by 2030 , according to reports of the specialized energy platform.

New review

The Indian Ministry of Energy, in cooperation with its Office of Energy Efficiency, announced the new amendments according to a decision issued last Wednesday , October 25, 2023 .

The new targets for the use of renewable energy in India - in accordance with the decision issued for the aforementioned amendment - were set as a percentage of the total electricity use of consumers (individuals or companies) from various energy sources.

The renewable energy sources in India - which certain consumers must compulsorily use according to the decision - are :

• Wind Energy
• And hydroelectric energy
• Distributed renewable energy systems or other renewable energy sources

All of them are distributed in certain proportions from the share of total renewable energy consumption.

The new amendments set the minimum for the use of the aforementioned total renewable energies at 29.91% during the fiscal year 2024-2025 , with this percentage reaching 43.33% by the year 2029-2030.

The list of consumers includes: those who obtain renewable electricity from distribution companies, those who obtain it freely, those who own captive renewable energy plants, or those who obtain electricity from independent producers.

The authorities are seeking to achieve their ambitious goal of increasing renewable energy capacity in India to 450 gigawatts by 2030, and within the framework of achieving these goals, giant Indian companies, such as Reliance, announced investments worth 750 billion Indian rupees ($9 billion) in the field of green technology, as well as giant... Iron and Steel ArcelorMittal, which has pledged to invest INR 190 billion ($2.2 billion) in solar energy projects.

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Sources:

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