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India to overachieve UNFCCC 2030 target, share of non-fossil fuels to increase to 64 per cent by 2030

The report on optimal generation capacity mix for 2029-30 added that the percentage of non-fossil fuel in installed capacity stood at 49 per cent and 36.5 per cent in March 2022 and March 2019, respectively

The percentage of non-fossil fuel in India’s electric power installed capacity is estimated to increase to 64 per cent in March 2030, according to a recent report by the Central Electricity Agency. The report on optimal generation capacity mix for 2029-30 added that the percentage of non-fossil fuel in installed capacity stood at 49 per cent and 36.5 per cent in March 2022 and March 2019, respectively. According to the Intended Nationally Determined Contribution (INDC) to the UN Framework Convention on Climate Change target, the goal is to achieve about 40 per cent cumulative electric power installed capacity from non-fossil fuel-based energy resources by 2030.

This is to be done with the help of transfer of technology and low cost international finance including from the Green Climate Fund. The study said that it aims to assess the least cost generation capacity mix to meet the projected electricity demand for the year 2029-30. It, however, added that the projected installed capacity shown in the report should not be in any way considered as a target of the country.

In October 2015, India had submitted its INDC to UNFCCC. Another aim of the INDC target is to reduce the emissions intensity of its gross domestic product by 33 per cent to 35 per cent by 2030 from 2005 level. It has also set a target of creating an additional carbon sink of 2.5 billion tonnes to 3 billion tonnes of carbon dioxide equivalent through additional forest and tree cover by 2030.

India is taking several steps to achieve its INDC targets for increasing renewable energy share such as its ambitious target of achieving 450 MW renewable energy capacity by 2030, one of the largest such expansion plans in the world, is already underway. Other plans include creating green energy corridors, solar parks, implementation of the National Smart Grid Mission, rolling out of solar-wind hybrid and battery storage tenders, and introduction of innovative technologies to promote energy efficiency.

https://energy.economictimes.indiatimes.com/news/coal/india-to-overachieve-unfccc-2030-target-share-of-non-fossil-fuels-to-increase-to-64-per-cent-by-2030/76619443

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