Renewable energy sector to get Rs 30.5 trn investments by 2030: Eco Survey

Mobilization of finance as well as investment on competitive terms and resolution of land acquisition issues are necessary for realising Rs 30.5 lakh crore investment required for meeting the target of having 500GW renewable energy in India by 2030, according to the Economic Survey.

The Economic Survey 2023-24 tabled in Parliament on Monday the Renewable Energy (RE) sector is expected to attract investments of about Rs 30.5 lakh crore in India between 2024 and 2030.

According to the Survey, this would create significant economic opportunities across the value chain.

The clean energy sector in India saw new investments of Rs 8.5 lakh crore (USD 102.4 billion) between 2014 and 2023, it said, adding that the RE sector received about USD 17.88 billion as FDI from April 2000 until March 2024.

On mobilization of necessary finance and investments on competitive terms for the RE sector, the Survey pointed towards gearing up the banking sector for arranging finances for larger deployment ..