CURRENT AFFAIRS

Detailed explanation-1: -India’s plan to install 500 GW (gigawatt) of renewable energy capacity by 2030 will involve an investment of at least ₹2.44 lakh crore or ₹2.44 trillion, according to a committee constituted by the Central Electricity Authority (CEA).

Detailed explanation-2: -The 2030 Targets By 2030, every public sector organisation is required to achieve: 51% reduction in energy-related greenhouse gas (GHG) emissions. 51% reduction in thermal (heating and transport) related greenhouse gas emissions. 50% improvement in energy efficiency.

Detailed explanation-3: -“By 2030, renewables account for 35 per cent of generation, and solar alone accounts for 15 per cent. In the Announced Pledges Scenario (APS), both electrification and renewables increase faster in line with the progress needed for India to reach its net zero emissions target by 2070, ” the report said.

Detailed explanation-4: -A target of setting up 450 GW of renewable energy sources by 2030 means that we need to augment the renewable energy capacity by almost 25-30 GW per year. This can be harnessed as a high return on investment opportunity by the private sector.

Detailed explanation-5: -India attracts $13 bn FDI in non-conventional energy sector. India could attract close to $10 bn in renewable energy investment in 2023. India’s target is to produce 5 MT of green hydrogen by 2030. Green Hydrogen target is set at India’s electrolyzer manufacturing capacity is projected to reach 8 GW per year by 2025.