India emerges as key driver of global renewable energy surge: Joshi

Puri, Dec 6 (PTI) Union New and Renewable Energy Minister Pralhad Joshi on Saturday said India has recorded the highest-ever addition of green energy capacity in the current financial year at 31.25 GW (Gigawatt), including 24.28 GW of solar power.

Addressing the inaugural session of the Global Energy Leaders’ Summit 2025 here, the minister also announced a 1.5 lakh rooftop solar ULA (Utility Led Aggregation) model for Odisha, which would benefit 7-8 lakh people across the state.

The summit was inaugurated by Odisha Chief Minister Mohan Charan Majhi and attended by energy ministers of various states.

After taking nearly 70 years to reach 1 TW (Terawatt) of renewable energy capacity in 2022, the world achieved 2 TW by 2024, Joshi said adding that the second terawatt was achieved in just two years.

"India is a key driver of this explosive global surge in renewable energy. In just 11 years, the country’s solar capacity has grown from 2.8 GW to around 130 GW, a rise of more than 4,500 per cent. Between 2022 and 2024 alone, India contributed 46 GW to global solar additions, becoming the third-largest contributor," he said.

Noting that India holds the world’s fifth-largest coal reserves and the second-largest consumer of coal, the minister said that even with this abundance, India is steadily balancing coal with renewable energy as the transition gathers pace.

With global mechanisms now shaping industrial competitiveness, he said, India’s shift towards renewable energy has become even more urgent and strategically important.

Noting that the global order undergoes a fast change in which India is poised to play a key role, Joshi said that the country needs to adopt a balanced approach in generation of both thermal and solar energy.

“India has skill, abundant resources, skilled man power and everything to move forward and take lead in the global scenario. We have to generate solar power along with usual thermal power to emerge as a leader in manufacturing. Once the energy cost comes down, there is no difficulty to manufacture goods at lower cost and become competitive in global market,” he said.

Joshi said that an estimated Rs 7 is spent on generating one unit of electricity from thermal sources while it is only Rs 4.70 per unit in solar with battery system.

“It is unimaginable that the cost of production of per unit solar energy plus battery cost only Rs 2.70 in Madhya Pradesh,” he said.

Taking to X, Joshi said, “Speaking at the Global Energy Leaders’ Summit 2025 in Puri, in the presence of CM Shri @MohanMOdisha ji and Deputy CM Shri @KVSinghDeo1 ji, highlighted India's historic clean energy expansion. Underscored the country's remarkable solar capacity growth, which surged from 2.8 GW to approximately 130 GW in just 11 years." This impressive progress was further marked by achieving the highest-ever non-fossil capacity addition during the current fiscal year, he said.

"Announced a 1.5 lakh rooftop solar ULA model designed to benefit and empower 7-8 lakh residents of Odisha,” the minister said.

Referring to changing global order, Joshi said that in the pre-World War-II era, it was United Kingdom which was leading the globe. However, in post WW-II period, both USSR and USA became leaders.

“However, the global order is fast changing and India is poised to take a lead role in global order in a decade or two,” he said adding that the country needs to emerge self sufficient in energy generation, manufacturing and other related economic activities.

He said India has already started exporting defence materials, mobile phones and toys, which were being imported earlier.

“Prime Minister Narendra Modi’s vision and guidance has changed the scenario,” he claimed adding that a large number of global manufacturing and business establishments are headed by Indians and the time has come for them to invest themselves in India.

The Global Energy Leaders’ Summit provides a platform in building a vibrant Community of Practice that brings together policymakers, innovators and industry leaders to accelerate India’s clean energy transition. PTI AAM NN