India secures $386b for renewable energy expansion

India has secured a commitment of $386 billion from banks and financial institutions to expand its renewable energy capacity by 2030, according to Renewable Energy Minister Pralhad Joshi.

Speaking on Monday, Joshi highlighted the country’s goal of reaching 500 GW of renewable energy capacity by 2030 with strong support from states, Union Territories, developers, manufacturers, and financial institutions.

This significant financial backing underscores India’s commitment to transitioning to clean energy, reducing its carbon footprint, and becoming a global leader in renewable energy production.