CURRENT AFFAIRS

Detailed explanation-1: -Creating a sustainable world India stands 4th globally in Renewable Energy Installed Capacity (including Large Hydro), 4th in Wind Power capacity & 4th in Solar Power capacity (as per REN21 Renewables 2022 Global Status Report).

Detailed explanation-2: -The Africa Renewable Energy Fund II (AREF II) invests in renewable energy projects across Sub Saharan Africa excluding South Africa, with a focus on hydro, solar, battery energy storage systems (BESS) and wind technologies. AREF II held first close in June 2021 and is targeted for final close in December 2022.

Detailed explanation-3: -The country’s vision is to achieve Net Zero Emissions by 2070, in addition to attaining the short-term targets which include: Increasing renewables capacity to 500 GW by 2030, Meeting 50% of energy requirements from renewables, Reducing cumulative emissions by one billion tonnes by 2030, and.

Detailed explanation-4: -The Ministry of New and Renewable Energy (MNRE) is the nodal Ministry of the Government of India for all matters relating to new and renewable energy. The broad aim of the Ministry is to develop and deploy new and renewable energy to supplement the energy requirements of the country.