The Government of India is planning to create 500 GW of renewable energy by 2030, which means that the country requires about $220 billion in investments. India will need foreign direct investment apart from the money raised domestically.
At present, India has created a generation capacity of around 310 GW of renewable energy. The government is striving towards meeting its objective of setting up 500 GW of renewable energy in this decade, according to NDTV Profit.
Mr. Sarangi expressed his concerns over how difficult it might prove to integrate all the produced energy from renewable sources with the power grid infrastructure.
Foreign funds may certainly help meet those monetary demands, but relying only on such sources to cover all the required expenses was impossible, Sarangi stated.
