INTERSOLAR EUROPE 2022

Disclaimer: Copyright infringement not intended.

Context

The Union Minister of State for the Ministry of New and Renewable Energy, Shri Bhagwant Khuba attended the Intersolar Europe 2022 held in Munich, Germany.
He invited all the developed countries and major renewable energy (RE) players to utilise the investment opportunity India is offering to the world.

India’s commitment to RE

Prime Minister Narendra Modi, during COP-26 announced India’s ambitious Panchamrit Target to achieve net-zero by 2070 and install 500 GW of non-fossil by 2030.
India has achieved the target of 40% cumulative electricity capacity from non-fossil fuel in 2021.
Government of India is committed to promoting domestic manufacturing in the solar photovoltaic (PV) sector to achieve its ambitious deployment goals.
- The government has announced a budget outlay of Rs. 24,000 Cr for solar PV modules.
- Further to promote a green hydrogen economy India has an estimated outlay of Rs. 25,425 Cr.

Panchamrit Target

India will reach its non-fossil energy capacity of 500 GW by 2030.
India will meet 50 per cent of its energy requirements from renewable energy by 2030.
India will reduce the total projected carbon emissions by one billion tonnes from now onwards till 2030.
By 2030, India will reduce the carbon intensity of its economy by less than 45 per cent.
By the year 2070, India will achieve the target of Net-Zero.

These panchamrits will be an unprecedented contribution of India to climate action.

About Intersolar Europe

Intersolar Europe is the world’s leading exhibition for the solar industry.
It takes place as part of the smarter E Europe – the continent’s largest platform for the energy industry.
It focuses on photovoltaics, solar thermal technologies and solar power plants.
Under the motto “Connecting solar business,” manufacturers, suppliers, distributors, service providers and project planners and developers from around the world meet in Munich to discuss the latest developments and trends, explore innovations first-hand and meet potential new customers.