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India's renewable energy sector to attract Rs 30.5 lakh Cr investment by 2030: Economic Survey

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India's renewable energy sector to attract Rs 30.5 lakh Cr investment by 2030: Economic Survey

The Economic Survey suggests that mobilizing finance, resolving land acquisition issues, and attracting competitive investments are crucial for achieving India's target of 500GW renewable energy by 2030. The survey highlights that the sector is expected to receive investments worth approximately Rs 30.5 lakh crore between 2024 and 2030, creating significant economic opportunities. Additionally, it recommends banking sector readiness for financing, exploring international funding, and addressing technical and financial bottlenecks for risk mitigation. The survey also emphasizes the role of state governments in land acquisition for renewable energy projects. It projects that renewable energy initiatives could create around 3.4 million jobs by 2030.

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