India receives $400B investment proposals at Bharat Renewable Energy Summit
Big news: India has received preliminary commitments/proposals worth $400 billion in investment promises for its renewable energy sector, way above the $220 billion it actually needs by 2030.
Announced at the Bharat Renewable Energy Summit, these commitments, from both global and local investors, show strong faith in India's green future.
The government now plans to review these offers to make sure they fit the country's energy goals.
Government sets ₹14,500 cr for storage
This money will boost projects like green hydrogen, battery storage, and better power grids.
Right now, India has 308 GW of non-fossil fuel capacity and is aiming for 500 GW by 2030, a massive 1,800 GW by 2047.
To keep things running smoothly as more renewables come online, ₹14,500 crore has been set aside for large-scale energy storage.
PM Modi said the government aims to add another 500GW of non-fossil capacity in the next 10-11 years.