THEBUSINESSBYTES
BUREAU
NEW DELHI, NOVEMBER
2, 2026
Prime Minister Narendra Modi on Monday said
the future of energy security lies in clean energy, asserting that India's
sustained investment in renewable energy over the past decade has helped the
country withstand global disruptions while maintaining strong economic growth.
Inaugurating the Bharat Renewable Energy
Summit and Expo 2026 at Bharat Mandapam here, Modi said recent global crises,
including the COVID-19 pandemic and the ongoing West Asia crisis, have
highlighted the close link between energy security and economic stability.
He said excessive dependence on fossil fuels,
whose reserves are limited and concentrated in a few regions, leaves economies
vulnerable to global shocks, while renewable energy offers a sustainable and
widely accessible alternative.
Highlighting India's achievements, Modi said
the country fulfilled its commitment to sourcing 50 per cent of installed
electricity capacity from non-fossil fuel sources in 2025, five years ahead of
schedule. India has already achieved nearly 300 GW of its 500 GW non-fossil
capacity target for 2030, he said.
The Prime Minister announced an ambitious plan
to add another 500 GW of non-fossil energy capacity over the next 10 to 11
years, expressing confidence in the country's ability to achieve the target.
Referring to the PM Surya Ghar: Muft Bijli Yojana, launched in February 2024, he
said more than 65 lakh households have adopted rooftop solar installations,
with around one lakh new households joining the initiative every six days. The
scheme has reduced electricity bills by nearly 76 per cent, according to a
study, while enabling several families to earn additional income by selling
surplus power to the grid.
He also highlighted the installation of solar
systems in more than 44,000 government buildings, resulting in annual savings
of nearly Rs 700 crore, and said the PM-KUSUM scheme has benefited over 30 lakh
farmers through solar-powered irrigation.
On green hydrogen, Modi said India is working
towards producing 50 lakh tonnes by the end of this decade under the National
Green Hydrogen Mission. He also referred to the launch of the country's first
green hydrogen-powered train.
Emphasising the importance of domestic
manufacturing, he said India's solar module manufacturing capacity has
increased from around 2 GW a decade ago to more than 200 GW, strengthening the
country's self-reliance in clean energy technology.
The Prime Minister called for connecting
government buildings, educational institutions, hospitals and streetlights to
solar power, while urging states and local bodies to promote healthy
competition in renewable energy adoption.
He also encouraged startups, IITs and
entrepreneurs to develop advanced solar technologies, indigenous battery
storage systems and solutions for households, agriculture and the dairy sector.
Describing renewable energy as a major
employment generator, Modi said expansion in manufacturing, installation,
maintenance and transportation would create thousands of additional jobs,
particularly for the country's youth.
Inviting global investors, he said the
renewable energy sector had attracted investments exceeding Rs 15 lakh crore
over the past decade, including more than Rs 6 lakh crore since the 2024
RE-INVEST Summit. Investment opportunities in the sector are expected to cross
Rs 20 lakh crore by the end of the decade, he added.
Highlighting India's commitment to global
cooperation, Modi said the country has proposed a USD 200 million Africa Solar
Facility to support clean energy development across the continent.
The summit coincides with the Ninth Assembly of the International Solar Alliance and the Fourth Conference on Green Hydrogen.
Modi said the coming decade would be crucial for achieving global climate goals and called for collective efforts to build a clean, green and secure future.
