GREEN BONDS AND COLLABORATIONS LEADING THE WAY FOR CLEAN ENERGY ADOPTION

Targeted skill development programmes and research initiatives are cultivating a competent workforce to sustain the sector's growth.

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The renewable energy sector of India is at a pivotal juncture as the country pursues its ambitious goal of achieving 500 GW of non-fossil fuel capacity by 2030. This transformative journey is characterised by a concerted effort to reduce reliance on coal, accelerate the adoption of clean energy technologies, and overcome investment and infrastructure challenges. The Green Energy Corridor project and the PM Gati Shakti National Master Plan are instrumental in enhancing grid infrastructure, streamlining project approvals, and promoting domestic manufacturing. India is promoting green bonds, infrastructure investment trusts (InvITs), and public-private partnerships to bridge the investment gap. Moreover, targeted skill development programmes and research initiatives cultivate a competent workforce to sustain the sector's growth.

EPR analyses the evolving energy landscape, featuring industry experts’ insights on key strategies and collaborative efforts.

Meeting 2030 clean energy targets

Renewable energy has made remarkable progress, but sustaining this momentum to meet the ambitious 2030 clean energy targets requires a multifaceted approach.

Raman Bhati from Servotech Renewable Power System Ltd highlights the importance of policy consistency and clarity. “Long-term, predictable policies are crucial for attracting sustained investment. Streamlining regulatory processes and ensuring grid stability will help accommodate the growing influx of renewable energy.” He also emphasises diversifying the renewable energy mix by further developing wind, biomass and pumped hydro storage to address intermittency challenges. “Promoting decentralised renewable solutions in rural areas will enhance energy access and reduce transmission losses,” he adds.