New Delhi: India’s transition toward clean energy will require an estimated $500 billion in investments by 2030 and approximately $13 trillion by 2070 to achieve its net-zero emissions targets, according to Shri Santosh Kumar Sarangi, Secretary at the Ministry of New and Renewable Energy.
Speaking at the Bloomberg New Energy Finance Summit, Shri Sarangi outlined the significant capital needed to decarbonize the national economy and expand domestic infrastructure. He noted that the calibrated trajectory India has taken in promoting both development and manufacturing provides investors with confidence to view the country as a major growth center.
The funding requirements coincide with a surge in power demand across industrial and digital sectors. BloombergNEF research indicates that electricity demand from data centers alone in India is expected to increase more than eightfold between 2025 and 2035.
To support this expansion, the government is focusing on emerging clean technology value chains, particularly in energy storage solutions such as lithium-ion, sodium-ion, and vanadium-fluoride batteries, alongside pumped storage projects. Sarangi highlighted significant manufacturing growth ahead, projecting that domestic polysilicon production will be operational around 2029-30, with substantial capacity in upstream green hydrogen components like electrolysers coming online by 2030-31.
Ahead of the upcoming Bharat Renewable Energy Expo and Summit scheduled for November at Bharat Mandapam in New Delhi, the ministry is actively engaging with domestic and international financial institutions to mobilize global private capital into solar, green hydrogen, and storage sectors.