India is poised to require a staggering $220 billion in investments to transition to green energy by the fiscal year 2030, according to Santosh Sarangi, Secretary of the Union Ministry of New and Renewable Energy (MNRE). Speaking at the curtain-raiser for the Bharat Renewable Energy Summit & Expo (BRESE) 2026, Sarangi outlined the financial roadmap necessary for the country's renewable energy ambitions.
The investment, spanning from fiscal year 2027 to 2030, will be directed across various sectors. Solar energy, a cornerstone of India's renewable strategy, is expected to absorb $70-75 billion. Transmission infrastructure will require an additional $40-45 billion, while wind energy will need $25-30 billion. Emerging technologies like green hydrogen are projected to demand $20-25 billion, and manufacturing will need $15-20 billion.
India has already attracted $64 billion in private investment in the renewable sector between July 2024 and June 2026, including $6.2 billion from foreign direct investment. The government has also contributed $6 billion to bolster renewable energy development. Sarangi emphasized the importance of these investments in meeting the country's energy needs and reducing carbon emissions.
Green hydrogen is emerging as a key player in India's energy transition. Indian developers have secured orders to supply 5.5 lakh tonnes of green hydrogen through 2026. This clean energy making, shipping, and road transport. Meanwhile, the European Union, Japan, and South Korea are considering imports of green ammonia and green methanol from India.
The Indian Council of Agricultural Research, in collaboration with the National Green Hydrogen Mission, is conducting a pilot project to evaluate green ammonia as a substitute for urea. This initiative spans 10,000 acres across six states and involves 10 different crops, potentially revolutionizing agricultural practices.
In a bid to further diversify its energy portfolio, the MNRE is developing a framework for allocating geothermal exploration rights, modeled after the hydrocarbons sector. Sarangi indicated that this framework is expected to be finalized within a month or two.
Recognizing the need for efficient energy storage, the government is also focusing on accelerating the deployment of battery energy storage systems. These systems are crucial for managing peak demand from electricity distribution companies, ensuring a stable and reliable power supply.
The upcoming BRESE 2026, set to be inaugurated by Prime Minister Narendra Modi on November 2, will host delegations from Australia, the UK, France, Germany, and Norway. The event will also see participation from state delegations, including chief ministers from Madhya Pradesh, Assam, Maharashtra, West Bengal, Odisha, Bihar, Andhra Pradesh, and Rajasthan.
