Why this is important to Wisconsin businesses: Wisconsin companies in that sector could bring products and services to partners there.
India is hitting significant milestones in its push toward a clean energy future.
Renewable sources can now generate up to 201 gigawatts (GW) of the country’s electricity supply, or 46% of the total capacity of 452.7 GW.
Solar energy represents the biggest portion, with a capacity of 90 GW, hydropower projects provide 52 GW, wind contributes 47 GW, and biomass represents 11GW, according to Minister of New and Renewable Energy Shri Pralhad Joshi. Building on those resources, India plans to install 50 solar parks with a total capacity of nearly 37.5 GW and to add offshore wind energy sites.
Two states are leading the way on renewable power—Rajasthan and Gujarat, in northwest and western India. Together, they have nearly 60 GW of solar and wind generation installed.
India’s goals are to be able to produce 500 GW of electricity from non-fossil sources by 2030, to be energy independent by 2047, and to reach net zero in carbon emissions by 2070, according to Invest India, the government’s nonprofit economic development organization.
To help reach those targets, the budget for 2024-25 includes a 110% increase in funding for a variety of solar power projects. In addition to the solar parks, the government is offering subsidies for residents to generate their own electricity by installing solar panels on the roofs of their homes, and it is providing incentives for farmers to replace their diesel-fueled water pumps with those powered by the sun, and allowing them to sell any surplus power.
Green hydrogen also is high on the agenda. India’s Green Hydrogen Mission plans to boost production of green hydrogen, which is made without the use of fossil fuels. The largest green hydrogen hub is at Pudimadaka, and expects to produce 1,500 tons of green hydrogen, 4,500 tons of green ammonia, 1,500 tons of green methanol, and 1,500 tons of sustainable aviation fuel on a daily basis.
Wisconsin companies in the renewable energy sector may find a variety of opportunities for their products and services in India.
