Shaping India’s Renewable Energy Vision with Innovation

We live in a world where the use of renewable energy is not just a sustainability future goal, but also an already existing reality. If we talk about India, our country is making a commitment to reach the objective of 500 GW of green energy capacity by the year 2030 and the target of 1TW by 2035. These green goals are part of an umbrella strategy to shift from fossil-based energy to green energy so that the never-ending demands of the constantly growing population of the country can be met.

Let us guide you through India’s ambitious journey toward a sustainable future.

Need for Innovation

Now, you must be wondering, “Why do we need innovation at all?” The answer to this question is very simple, yet crucial in today’s age. Innovation is the most practical solution to combat urgent issues like climate change and global warming. Some benefits of innovation helping in making our lives better are:

1. Improvement in efficiency

Innovation in renewable technology can lead to massive jumps in energy generation efficiency. Photovoltaics and improved wind turbines can be fitting examples of the same.

2. Value for money

Advanced technologies bring with them reduced renewable energy investments and production costs. Techniques such as hovering solar farms and windless blade turbines save up space, as well as setting up charges, hence becoming a real competition to fossil-based energy.

We will talk about the investment opportunities in detail later in this article.

3. Energy Storage Solutions

Proper energy storage facilities are very important. Inventions like lithium gas batteries provide a higher energy density and they last longer than traditional batteries.

4. Good for the environment

Innovative technologies are designed for dual use. The first is to produce alternative energy, and the second is to reduce greenhouse gas emissions in the environment.

5. Abundant in nature

We are aware that renewable energy resources are all the natural resources (like sun, wind, water, etc.) gifted to us by nature. Since these natural resources are replenishable, they are capable of keeping up with the demands of the growing population.

Current Renewable Energy Landscape of India

Talking about India, the green energy area is constantly changing and evolving. As a country, we have laid down arduous targets to be achieved which will help us move forward towards a sustainable future.

According to the data available, as of September 2024, our cumulative non-fossil fuel energy capacity, including giant hydropower, is at approximately 201.45 GW. A more detailed version is:

India’s Achievements

You will be proud to know that presently, India holds the 4th position worldwide, in renewable energy production.

• 1. We achieved the goal of having 40% of the electricity capacity already installed from green resources by the year 2030, which was prematurely in November 2021.
• 2. The solar energy capacity has increased almost 30 times in the last nine years. This shows the effectiveness of all the initiatives and planning.
• 3. The growth of the alternative energy sector has paved the way for numerous investment and employment opportunities in the country.

KPI Green Energy’s Contribution

KPI Green Energy Ltd is taking significant steps in shaping India's renewable energy vision through innovative projects.

• The company received 127+MW IPP, 44+MW Hybrid IPP, 299+ MW CPP & 37+ MW Hybrid CPP energized till H1FY25
• KPI aims to achieve over 1,000 MW of renewable energy capacity by 2025, contributing to India's goal of 500 GW of renewable energy by 2030.
• KPI’s innovative approach includes using advanced technology for efficient hydrogen production and developing a hybrid power model that combines solar and wind energy.

Future Targets

India has set bold targets for the growth of its green energy sector:

• 500 GW of already existing quantities from green resources by 2030, as a part of the commitment we made during the COP26 climate conference.
• Another ambitious potential target of 1 TW (1000 GW) by the year 2035.
• The country is set to reduce the carbon intensity of our economy by 45% by the end of this decade.
• We are also working on attaining net-zero carbon emissions by 2070.

The visionary leaders of the country are aiming for infinite energy resources to make up at least 50% of the total installed electric capacity in 6 years. This strong vision reflects the determination to cut down the carbon footprints and increase energy security for a sustainable future.

Production of 5 Mn Tonnes of green hydrogen is speculated to be produced by 2030. The 125 GW of renewable energy capacity will play a significant supporting role in this mission.

The seven activities that will be taken into account for trading carbon credits under the bilateral or rather, the cooperative steps under Section 6.2 mechanism as defined in the National Designated Authority for the Implementation of the Paris Agreement (NDAIAPA) are:

• Green energy that has storage facilities
• Solar heating power
• Off-shore wind power
• Green hydrogen
• Tidal energy, Ocean Thermal Energy, Ocean Salt Gradient Energy, Ocean Wave Energy, and Ocean Current Energy
• High Voltage Direct Current Transmission in partnership with renewable energy projects
• Green Ammonia

Investment Opportunities

By now it is no surprise to any of us that the renewable energy sector has immense investment opportunities. Several renewable energy companies provide great options to choose from. Some top investment areas in India in the field of renewable energy are:

1. Clean Energy Value Chain

42 trillion Rupees ($500 bn) worth of investment in clean energy by 2030 has been unveiled in India. This includes various areas such as solar energy, green hydrogen, and electric vehicles (EVs).

2. Emerging Technologies

Emerging technologies like floating solar panels, offshore wind farms, and green hydrogen production have massive scope in the near future.

Floating solar panels save a lot of space by generating solar energy without occupying much area of land.

Offshore wind energy accounts for a major chunk of global wind energy generation. With India exploring this sector, the investment opportunities are great.

India has recently been pushing a lot for green hydrogen production. The investors in this sector will reap the benefits of all the initiatives and programs launched in the country.

3. Infrastructure Development

A good infrastructure lays the foundation of a strong action plan. Investing in critical issues such as energy storage solutions and grid modernization can seem beneficial in the coming times. These are significant areas where investment is much needed to ensure that the renewable energy sector grows at a rapid speed.

Conclusion

We have seen that India's renewable energy vision majorly depends on innovation, driving a transformational shift toward a sustainable future.

So are you ready to explore the benefits of investing in and adapting renewable energy? If yes, then you should familiarize yourself with one of the top renewable energy company— KPI Green Energy Limited. For several decades, KPI Green Energy Limited has been an innovator in contributing to renewable energy production. With a determination to create a safe, healthy, and green environment, KPI Green Energy Limited keeps up effortlessly with growing modern demands.

If you are looking to invest in their specialization, feel free to reach out to them at info@kpgroup.co

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