India’s RE Sector to Attract Over INR 20 Lakh Crore by 2030: PM Modi
Investment opportunities in India’s renewable energy sector are expected to exceed INR 20 lakh crore by 2030, Prime Minister Narendra Modi said while inaugurating the Bharat Renewable Energy (BRE) Summit and Expo 2026 in New Delhi. He also highlighted the country's progress in clean energy generation, domestic manufacturing and infra development.
November 03, 2026. By Mrinmoy Dey
Addressing industry leaders, investors, startup representatives and senior officials from India and abroad, the Prime Minister said the renewable energy sector had attracted investments of over INR 15 lakh crore (USD 164 billion) during the past decade. Of this, more than INR 6 lakh crore (USD 63 billion) had been invested in the two years since the 2024 RE-INVEST Summit.
Inviting global investors to participate in India's clean energy transition, Modi highlighted the country's demand, scale, scope and political and policy stability as key factors supporting investment opportunities. He said the coming years would open up significant opportunities across the renewable energy value chain.
The Prime Minister noted that global energy disruptions, including the ongoing West Asia crisis, had reinforced the importance of energy security for economic stability. He said that India's investments in clean energy and systemic reforms over the past decade had helped the country manage external disruptions while maintaining economic growth. “If India had not invested in clean energy and created new systems for this over the past decade, then our crisis could have been much more severe than the rest of the world,” he said.
Stressing that continued dependence on fossil fuels would leave economies vulnerable to supply disruptions, Modi said that the future of energy security lay in clean energy, whose resources were widely available across countries.
Highlighting India's renewable energy progress, the Prime Minister said that the country had achieved its Paris Agreement commitment of sourcing 50 percent of its installed power capacity from non-fossil fuel sources in 2025, five years ahead of its 2030 deadline. India now has more than 50 percent of its installed power capacity from non-fossil sources and has achieved nearly 300 GW towards its target of 500 GW of non-fossil fuel capacity by 2030.
He announced an additional ambition to add another 500 GW of non-fossil fuel capacity over the next 10 to 11 years. “This target is somewhat difficult, but I have faith in the capability of my country; therefore, I say, we will do it!” he said.
The Prime Minister also highlighted the growth of domestic solar manufacturing, noting that India's solar module manufacturing capacity had increased from around 2 GW a decade ago to more than 200 GW currently. The country has also developed nearly 40 GW of solar cell manufacturing capacity, alongside expanding production of other solar components, he said.
On distributed renewable energy, Modi highlighted the progress of the PM Surya Ghar Muft Bijli Yojana, launched in February 2024 with a target of installing rooftop solar systems in one crore households. More than 65 lakh households have joined the programme within 24 to 25 months, with around one lakh new households adopting rooftop solar every six days.
According to a study cited by the Prime Minister, the scheme has reduced electricity bills by approximately 76 percent, while lakhs of households have brought their bills down to zero and are earning additional income by selling surplus electricity to the grid.
He also highlighted the contribution of solarisation of government buildings, which has connected more than 44,000 government buildings to solar power and is generating annual savings of nearly INR 700 crore. Under the PM-KUSUM scheme, more than 30 lakh farmers have received solar irrigation facilities, with each solar pump beneficiary saving nearly INR 1 lakh annually.
The Prime Minister further referred to the PM Surya Sarovar Yojana, which promotes the installation of solar panels over reservoirs, ponds and lakes to utilise available water bodies and reduce land acquisition requirements.
On green hydrogen, Modi said India was working under the National Green Hydrogen Mission to achieve annual production of 5 million tonnes by the end of the decade. He also highlighted the integration of green hydrogen into transportation, noting that the country had started operating its first green hydrogen train a few months ago.
Emphasising the importance of transmission infrastructure alongside renewable energy generation, the Prime Minister highlighted the development of Green Energy Corridors, comprising dedicated transmission lines and substations to evacuate power from solar and wind-rich regions. He said that the One Nation, One Power Grid initiative had integrated five regional grids into a single-frequency national network.
He added that India had recently set an investment target of approximately INR 2 lakh crore to strengthen its transmission infrastructure further.
Calling for faster solarisation of public infrastructure, Modi urged states and local bodies to connect government buildings, schools, colleges, hospitals and streetlight networks to solar power. He also proposed introducing competition among states and local administrations to encourage faster implementation and enable the replication of successful initiatives.
For the agriculture sector, he called for expanding solar deployment beyond irrigation pumps by encouraging farmers to install solar panels on uncultivated land and along farm boundaries.
He also urged startups, IITs, researchers and entrepreneurs to develop round-the-clock solar solutions, including rooftop solar cooking systems and home-based solar charging facilities for electric two-wheelers and cars. He said such innovations could help middle-class households save thousands of rupees annually.
The Prime Minister also called for developing specialised solar-powered equipment for the dairy and agricultural sectors, including applications for animal fodder preparation, crop harvesting and post-harvest activities.
Highlighting the growing requirement for energy storage, Modi said India needed next-generation innovations, indigenous storage hardware and additional battery storage capacity to support its clean energy ambitions. He described the sector as a significant opportunity for domestic researchers, entrepreneurs and investors, noting that solutions developed in India could also serve international markets.
He added that the expansion of clean energy was creating employment opportunities across manufacturing, installation, servicing and transportation. Greater adoption of solar-powered appliances and electric mobility, he said, would also create new industries and generate further jobs.
On international cooperation, Modi reiterated India's commitment to sharing its clean energy technologies and experience with other countries. He highlighted the role of the International Solar Alliance in expanding access to funding, technology and expertise, particularly in developing economies. He also referred to the proposal for a USD 200 million Africa Solar Facility to support solar energy deployment across the continent.
The Bharat Renewable Energy Summit and Expo 2026 is being held alongside the Ninth Assembly of the International Solar Alliance and the Fourth Conference on Green Hydrogen, bringing together stakeholders from across the global renewable energy ecosystem. The Prime Minister said that the coming decade would be critical for achieving global climate targets and called for collective efforts to accelerate the clean energy transition.
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