New Delhi: Leaders in the renewable energy sector unveiled ambitious plans for India’s green energy future at The ETEnergyworld Solar Power Congress 2024, yet highlighted significant challenges in land acquisition and policy coherence that could impede progress. The Solar Power Congress, a mega initiative by The Economic Times, served as a platform for key industry stakeholders to discuss strategies to achieve India’s renewable energy targets.
NHPC Renewable Energy Ltd’s Chief Executive Officer, S.P. Rathour, outlined the firm’s objectives, focusing on adding 10GW of hydroelectric power by 2030 and 2GW of solar energy by 2026. Rathour emphasized the critical need for a unified approach to bolster the solar sector’s growth and achieve the national ambition of 500GW renewable capacity by 2030. “Supply chain enhancement and support for indigenous manufacturing are pivotal for the expansion,” he asserted.
Addressing the congress, Surbhi Goyal, Senior Energy Specialist at The World Bank, proposed innovative solutions like floating solar plants and offshore wind projects to overcome the pressing land acquisition challenge. She also pointed out the importance of efficient fund circulation and the necessity of ensuring financing returns for the sector’s development.
The event also heard from Dhananjay Kumar, Director of Corporate Affairs at Engie, who called for government action to facilitate the development of wind parks, highlighting land acquisition as a major obstacle for renewable energy projects.
Furthermore, Matrugupta Mishra, Managing Partner at Ritam Legal, drew attention to the discord between central and state governments over policy implementation, stating, “A lack of coordination is affecting the industry. While the Centre is pushing for proactive policies, the response from states is often misaligned.”
The ETEnergyworld Solar Power Congress 2024 underscored India’s determined stride towards a renewable energy-rich future, while also casting a spotlight on the hurdles of land acquisition and policy synchronization that need to be addressed. The insights shared by industry leaders at the congress pave the way for a concerted effort towards overcoming these challenges and achieving India’s green energy goals.
