'India set to meet 500 GW renewable energy target by 2030'

The renewable energy producers together have almost reached the halfway mark by March this year and in the next five and a half years the other 50 per cent of the target will be achieved, said Girish Tanti, vice chairman of Suzlon Energy Ltd.

Bengaluru: The renewable energy (RE) sector is well on course to achieve the national target of 500 GW by 2030. The RE producers together have almost reached the halfway mark by March this year and in the next five and a half years the other 50 per cent of the target will be achieved, said Girish Tanti, vice chairman of Suzlon Energy Ltd.

“There has been very extensive work done by CEA to work out the 500 GW target. For a country like India, it is important to not only achieve this target but also produce and supply affordable energy to all end-users. The central government has set a vision of becoming carbon positive by 2070 and achieving 500 GW RE is a step in that direction,” he told DH.

Tanti was in Bengaluru on Sunday to participate in the Global Wind Day celebrations. Every year, June 15 is celebrated as Global Wind Day as a reminder of how wind energy can help build a greener future.

Of the 500 GW target, the target for wind energy sector is 100 GW, 300 GW of solar energy and the balance will come from other renewable energy sources like hydel power, etc. There is a strong ecosystem in place as far as solar and wind energy is concerned.

He said the RE industry has already achieved 222 GW capacity, of which wind energy accounts for 50 GW. The wind energy producers have geared up to double their capacity to 100 GW in the next five and a half years. “Wind currently contributes less than 20 per cent of India’s renewable energy mix. As we accelerate towards the 500 GW non-fossil capacity target by 2030, this share must grow. To make clean power affordable for consumers, wind has to contribute more than 100 GW,” he added.

Tanti explained that the measures announced in the Union Budget 2025 focusing on the National Manufacturing Mission, National Export Mission, and Green Corridor will position India as a global hub for manufacturing green energy. This will help the wind energy sector to achieve its targets ahead of the deadline. The wind energy sector has a strong foundation in place with 65 per cent of the components being made in India, while it is only 20 per cent for solar. The localisation in wind energy will go up to 85% in the next couple of years, Tanti said.

“We have three components -- government procurement or bidding market, public sector units looking to decarbonise, and the private sector and MSMEs working towards having the right energy mix. All these levers help open the market significantly,” he added.

This year, the industry will produce about 5.5 GW to 6.5 GW of wind energy components. About 40 GW worth of bids have happened. The first milestone of the 2030 goal is reasonably on track, he said.

“We have a runway of five and a half years to achieve the balance of 50 GW. The integrated manufacturing capability is 18 GW annually, of which last year, we also exported 3.5 GW. There is a good export demand for Make-in-India components. The world is looking at India as a manufacturing partner. We can only install one third of our capacity in India currently and it is going up steadily. So, there is a scope to export the two-third capacity currently,” Tanti explained.

India currently exports wind turbines and blades to many countries including the US, European countries, and Australia. There is a potential to produce 1.1 tera watt of wind energy and so far only 4 percent is achieved in the country.

Talking about Suzlon’s plans, Tanti said the company has so far created 15 GW capacity over the last 30 years with 30 per cent market share. Its current capacity is 4.5 GW and it is in the process of expanding it further. It is in the middle of setting up 3-4 new factories including one in north Karnataka.