New Delhi: Govt is targeting to mobilise $220 billion in investment in the renewable energy sector by 2030 to expand manufacturing, transmission infrastructure and green hydrogen production, as it prepares to host the four-day Bharat Renewable Energy Summit & Expo (BRESE) in the capital from Nov 2 to 5.While solar energy projects would require an investment of nearly $70 billion, wind projects would need $25-30 billion, energy storage deployment $20 billion, transmission networks $40-45 billion, hydropower $12-15 billion and green hydrogen offtake $20-25 billion. India aims to achieve 500 GW of installed non-fossil fuel capacity by 2030.The summit will be inaugurated by PM Narendra Modi at Bharat Mandapam on Nov 2 and is likely to be attended by energy ministers from 30 countries, including Australia, Denmark, France, Germany, the Netherlands and the United Kingdom, as well as representatives of the European Union, with the aim of exploring cooperation in renewable energy financing, green hydrogen, energy storage, clean energy manufacturing and technology development.Santosh Sarangi, secretary in Ministry of New and Renewable Energy (MNRE), said India had secured $64 billion in private investment between June 2024, when the previous RE-Invest Summit was held, and June 2026, including $6.2 billion in foreign direct investment (FDI).“With 308 GW of installed non-fossil fuel capacity, we are firmly on course to reach our 500 GW target by 2030. Realising this ambition will require approximately $220 billion in investment between 2027 and 2030, alongside accelerated deployment of energy storage, stronger transmission networks and expanded domestic manufacturing capabilities,” Sarangi said, adding that financial investors, private equity firms, pension funds and mutual funds were expected to play a key role in it.Ministry is also developing a framework to assign exploration rights for geothermal energy, similar to the guidelines on petroleum exploration, which is expected to be ready within a month or two.BRESE 2026 will be held alongside the 9th Session of International Solar Alliance (ISA) Assembly and 4th International Conference on Green Hydrogen (ICGH).
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Sarangi said Indian green hydrogen developers have so far secured orders for about 5.5 lakh tonnes per annum (MTPA), including 4.5 lakh MTPA secured in 2026 alone. Japan, South Korea and the EU were looking at greater sourcing of green ammonia and green methanol.He said green hydrogen had huge potential, with several pilot projects already under way in the direct reduced iron (DRI) steel and transportation sectors. India is also conducting an experiment across 10,000 acres in six states, covering 10 different crops, to inject ammonia directly into the soil instead of applying urea, a move that could improve efficiency and reduce costs and losses due to volatilisation and irrigation, Sarangi said.
