‘India’s energy transition firmly underway, driven by clear targets & decisive policy action’

NEW DELHI: Shripad Yesso Naik, Minister of State for Power and New & Renewable Energy, Govt of India on Monday said India’s energy transition is firmly underway, driven by clear targets and decisive policy action.

Addressing the two-day India Energy Transition Summit organised by FICCI, he reiterated the government’s goal of achieving 500 GW of non-fossil fuel capacity by 2030 and net zero emissions by 2070 under Prime Minister Narendra Modi’s vision.

Naik said India’s installed power capacity has crossed 520 GW, with over half from non-fossil sources. Solar capacity has more than tripled in recent years, supported by transparent bidding, green energy corridors, ultra-mega renewable parks, rooftop solar under PM Surya Ghar Yojana and agricultural solarisation through PM KUSUM.

He added that the National Green Hydrogen Mission will drive industrial decarbonisation and reduce import dependence.

Emphasising the need to move beyond capacity addition, Naik called for stronger transmission networks, storage expansion, grid flexibility and financially sound distribution companies, while ensuring energy security and affordability.

Ghanshyam Prasad, Chairperson, Central Electricity Authority, said India now has a long-term roadmap up to 2070, focusing on resource adequacy, electrification, storage and transmission planning.

The next phase will require balancing renewable growth with grid stability and market reforms.

Industry leaders highlighted the importance of coordinated action among policymakers, financiers and developers to accelerate progress.

A FICCI-CRISIL report on energy storage and a souvenir on India’s energy transition were released at the inaugural session.