India Urges Global Cooperation for Clean Energy Funding Surge
Overview
India is urging global partners to accelerate the clean energy transition, emphasizing technology transfer and affordable finance at the IRENA assembly in Abu Dhabi. With a need for $300 billion by 2030 and targets of 500 GW non-fossil fuel capacity, the country highlighted significant investment opportunities in renewables, storage, and green hydrogen.
Global Energy Transition Imperative
India is calling for enhanced international cooperation to fast-track the global energy transition. The emphasis is on critical elements like technology transfer, access to low-cost finance, and capacity building, particularly for developing nations. This support is vital for scaling renewable energy without hindering their development goals.
India's Ambitious Targets and Investment Needs
At the 16th Assembly of the International Renewable Energy Agency (IRENA) in Abu Dhabi, India's national statement highlighted substantial investment requirements. The country alone expects to need around $300 billion by 2030 to meet its energy transition objectives. This projected capital expenditure is set to create significant opportunities across renewable generation, energy storage solutions, green hydrogen production, grid infrastructure, and clean energy manufacturing.
An Attractive Destination for Green Capital
India remains one of the world's fastest-growing major energy markets. The nation is prioritizing robust and resilient power systems through rapid deployment of energy storage, grid modernization, and green energy corridors. Its stable policies and transparent markets make it an attractive destination for clean energy investment. India's approach is anchored in equity, inclusivity, and long-term policy stability, reaffirming its commitment to achieving 500 gigawatts of non-fossil fuel installed power capacity by 2030 and net-zero emissions by 2070.
