New Delhi, Feb 22 Union Power Minister Manohar Lal on Saturday told industry stakeholders that there is a need to focus on unique innovation to achieve India’s target of 500 GW renewable energy.
Speaking at the ‘Elecrama 2025’ event organised by industry body Indian Electrical and Electronics Manufacturers Association (IEEMA) in Greater Noida, the Union minister emphasised the importance of the power sector in driving the country’s economic growth.
Lal said in his address that the power sector in India has a great future. We need to focus on innovative ways to increase production.
He said there is a need to develop advanced power electronics, affordable transformers, power converters, smart grid solutions to take advantage of green energy.
According to the Union Minister, a joint effort of the industry and the government is necessary to make this sector the engine of India’s growth.
The Union Minister further said that India is working towards achieving 500 GW of renewable energy capacity by 2030. This target can be achieved if both the industry and the government work together efficiently.
India has increased its renewable energy capacity by 2.81 times to 200 GW since 2014.
Lal further said that during this period India has increased its solar capacity by 38 times to over 100 GW. This shows that the country is rapidly moving forward in the field of renewable energy.
He also emphasized the importance of improving the country’s energy transmission and distribution network and urged industry players to focus on developing high-efficiency equipment such as Gas Insulated Switchgear (GIS) substations to modernize the grid.
The Union minister further said, “E-mobility is a huge opportunity, and the country needs more battery-swapping stations, fast chargers and vehicle-to-grid systems to reduce emissions and support clean transportation.”
The government will provide full support to investors and they should take advantage of various schemes and initiatives designed to promote the sector.
