Targeting 40 per cent non-fossil power by 2030, says Narendra Modi
International Solar Alliance (ISA) will in future play an important role in the field of renewable energy on lines of the similar role played today by the Organisation of Petroleum Exporting Countries (OPEC), Prime Minister Narendra Modi said Tuesday. Oil cartel OPEC led by Saudi Arabia currently meets close to half of the world’s oil needs.
Speaking at the ISA’s first assembly meeting organised by Ministry of New & Renewable Energy, Modi said India will soon offer ISA membership proposal to all member countries of the United Nations. He said the renewable energy sector in India offers significant business potential to the tune of $70-80 billion to both domestic and international investors.
He said the government is targeting 40 per cent of electricity generation from non-fossil fuel-based resources by 2030 as it looks to tap vast solar and wind potential to replace reliance on polluting coal to meet its energy needs.
Advocating his vision of one world, one sun and one grid, he said that the solar power will play the same role that oil wells have played over the past few decades in meeting global energy needs. He said ISA provides big platform for pursuing climate justice.
Humans have for last many years relied on resources trapped below the earth’s surface for meeting energy needs. But for a secure future, resources available above the ground like solar and wind energy need to be harnessed, he said.
Modi said 50 GW (giga watt) of renewable energy will be soon added to existing capacity in India and non-hydro renewable will contribute 20 per cent of total energy. Speaking at the event, UN Secretary General Antonio Guteress said that the world is witnessing a global renewable energy revolution and solar energy is at the Centre of this revolution.