Learn about energy, renewable energy and its growth in India
The Ministry of New and Renewable Energy, Government of India, has formulated an action plan to achieve a total capacity of 60 GW from hydro power and 175 GW from other RES by March 2022, which includes 100 GW of Solar power, 60 GW from wind power, 10 GW from biomass power and 5 GW from small hydro power.
India is a steadily emerging nation for oil refining. Indian petroleum firms are planning on enhancing the distillation capacity from 149 million tonnes per annum to 243 million tonnes per annum. This has led to the growth of automobile sales in the country. By 2030, the sector is estimated to increase by $ 20 million.
With the increased support of the government and improved economics, the energy sector has become attractive from the perspective of investors. As India looks to meet its energy demand on its own, which is expected to reach 15,820 TWh by 2040, renewable energy is set to play an important role.
The Ministry of New and Renewable Energy (MNRE) has set an ambitious target to set up renewable energy capacities to the tune of 175 GW by 2022 of which about 100 GW is planned for solar, 60 for wind and other for hydro, bio among other.
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