India hits 50% non-fossil power capacity, seeks $300 bil for energy transition by 2030

India achieved 50% of its installed power capacity from non-fossil fuel sources in 2025, yet the country needs around $300 billion in investments by 2030 to accelerate energy transition and attract global investors, Minister for New and Renewable Energy, Pralhad Joshi said Jan. 11.

Speaking at the International Renewable Energy Agency (IRENA) in Abu Dhabi, UAE, Joshi highlighted that India's growing electricity demand and thrust on clean energy, would require more efforts and funds, according to a statement from the Ministry of New and Renewable Energy.

"Reiterated India's belief that the global energy transition must be clean, just, affordable and inclusive, aligned with the Sustainable Development Goals (SDGs)," Joshi said in a related social media post on X Jan. 11.

"...India's commitment [is] to a people-centric energy transition, driven by international cooperation on finance, technology and governance..."

The estimated investment could be deployed for renewable power generation, storage, renewable hydrogen production, strengthening grid infrastructure and manufacturing of renewable energy components, the Ministry's statement said.

India is backing its renewable energy sector with stable policies and transparent markets, Joshi said. The government, with a net-zero target at 2070, aims to have 500 GW of power capacity from non-fossil fuel sources by 2030.

India's renewable energy capacity has surpassed 266 GW, with the country adding nearly 50 GW of renewable capacity in 2025, making it one of the fastest-growing renewable energy markets in the world, the Ministry said.

India generated 20.6 TWh of renewable power in November, accounting for approximately 15.6% of the total power generation of 132.47 TWh in the month, government data showed, indicating renewables need to grow further before they form a sizable portion of the generation mix.

Seeks international cooperation

Joshi called for enhanced international cooperation, for technology transfer, access to low-cost finance, capacity building and harmonization of standards to support developing countries in scaling up renewable energy without compromising development aspirations.

"May their leadership strengthen multilateral cooperation and advance a sustainable and inclusive global energy transition," Joshi added on X, referring to the Dominican Republic on assuming the presidency of IRENA.

Joshi held separate discussions with UAE Climate Change and Environment Minister Amna bint Abdullah Al Dahak to strengthen the India-UAE cooperation on climate action, clean energy and food security, reviewing partnerships in renewable energy investment and innovation, the statement said.

The two sides reviewed the expanding partnership in renewable energy, investment and innovation, anchored in multiple Memoranda of Understanding signed between 2014 and 2024 and aligned with the UAE's net-zero goal by 2050, the statement added.

The discussions focused on enhancing collaboration in renewables, decentralized energy solutions, manufacturing, energy storage, technology cooperation and blended finance, according to the statement.

The US recently directed the withdrawal from 66 international organizations, including IRENA, the United Nations Framework Convention on Climate Change and the Intergovernmental Panel on Climate Change, the White House said.

Platts, part of S&P Global Energy, assessed the India Renewable Hydrogen Term Contract at $3.55/kg as of Jan. 8 (weekly price), down 0.6% from Dec. 11 when the assessment was first launched.