India Achieves Climate Goals Ahead Of Schedule, PM Modi Announces New Green Energy Targets

In a landmark achievement, India has become the only G20 country to fulfill its climate commitments made at the 2015 Paris Climate Change Summit ahead of the set deadline, Prime Minister Narendra Modi declared on Thursday.

In his address on the 78th Independence Day, PM Modi highlighted that India has met its climate targets under the Paris Agreement, a legally binding international treaty adopted by 196 nations. “India is the only nation that has achieved its climate target,” Modi affirmed, pledging that the country will strive for 500 gigawatts (GW) of clean energy by 2030.

Paris Summit

The Prime Minister’s announcement follows India’s successful fulfillment of its initial Nationally Determined Contributions (NDCs) outlined at the Paris Summit. By December last year, India had achieved a reduction in emissions intensity of its GDP by 33 to 35 percent from 2005 levels and met its goal of obtaining about 40 percent of its electric power capacity from non-fossil fuel sources by 2030.

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India has now revised its climate targets to further its commitment: aiming for a 45 percent reduction in emissions intensity of GDP by 2030 and increasing its non-fossil fuel-based electricity capacity to 50 percent by 2030.

As of now, India’s installed capacity for solar photovoltaic (PV) power stands at 85.47 GW, while wind power capacity reaches 46.65 GW. The government has introduced several initiatives to support the growth of renewable energy sources, including solar and wind power.

India’s ambitious Goal

Looking ahead, India’s ambitious goal is to achieve 500 GW of installed electric capacity from non-fossil sources by 2030. To facilitate this, the Centre has approved Foreign Direct Investment (FDI) up to 100 percent under the automatic route for renewable energy projects.

According to the Economic Survey, India boasts a robust infrastructure to attract FDI, particularly in greenfield projects related to renewable energy. This strategic move is expected to bolster the country’s efforts to lead the global transition to a greener, more sustainable future.