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Union Minister Pralhad Joshi has urged stronger global cooperation to help developing countries expand renewable energy without slowing economic growth. Speaking at the 16th IRENA Assembly in Abu Dhabi, he said India alone will require around USD 300 billion in investments by 2030 to meet its clean energy targets. He highlighted India's stable policies, large-scale renewable projects, and growing focus on storage, green hydrogen, and grid infrastructure. Joshi stressed the need for technology transfer, affordable finance, and capacity building for emerging economies. He also cited schemes like rooftop solar and farm solarisation, noting that renewable energy growth is creating jobs, infrastructure demand, and wider economic opportunities.
Union Minister for New and Renewable Energy Pralhad Joshi has called for stronger international cooperation to help developing countries scale up renewable energy capacity without compromising their economic and social development goals. The minister made these remarks at the 16th Assembly of the International Renewable Energy Agency (IRENA) held in Abu Dhabi, the United Arab Emirates. Advertisement
Addressing global policymakers and industry leaders, Joshi said the transition to clean energy worldwide will require unprecedented levels of investment, collaboration, and policy alignment. He highlighted that India alone is expected to need investments of around USD 300 billion by 2030 to meet its renewable energy targets. This investment is expected to create opportunities across multiple segments, including renewable power generation, energy storage, green hydrogen, transmission infrastructure, and manufacturing.
The minister said that stable policy frameworks and transparent market mechanisms have helped position India as one of the most attractive destinations for clean energy investments. He noted that large-scale renewable projects, grid expansion, and decentralised energy solutions are increasingly shaping India's infrastructure and industrial landscape.
Emphasising the challenges faced by emerging economies, Joshi stressed the need for global support mechanisms. He underlined the importance of technology transfer, access to affordable financing, capacity building, and harmonisation of technical standards. These measures, he said, are critical to enabling developing countries to expand renewable energy systems while continuing to pursue growth and development.
Joshi said India is prepared to share its experience, institutional frameworks, and technical expertise with other nations. He added that the country is keen to work closely with all IRENA member states, particularly least developed countries and small island developing states, to accelerate the global energy transition.
The minister also outlined several government initiatives that are supporting the expansion of clean energy in India. Under the PM Surya Ghar: Muft Bijli Yojana, around 2.5 million households have adopted rooftop solar systems in less than two years. The scheme aims to cover 10 million households by March 2027, supporting decentralised power generation and reducing household electricity costs.
He also referred to the PM-KUSUM scheme, under which approximately 2.17 million farmers have benefited through the replacement of diesel-powered pumps and the solarisation of agricultural feeders. The initiative is helping reduce fuel costs, lower emissions, and improve energy access in rural areas.
Joshi said India's energy transition is not limited to adding generation capacity but is also focused on creating jobs, strengthening infrastructure, and improving quality of life. He noted that renewable energy projects are increasingly driving demand for industrial land, grid-linked infrastructure, and logistics support, contributing to broader economic activity.
The minister concluded by reiterating that global collaboration will be essential to achieving climate goals while ensuring equitable growth. He said coordinated action can help align clean energy expansion with long-term development priorities across regions.
Source: PTI
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