PM woos investors in energy sector, says India offers many possibilities

New Delhi, PTI: Prime Minister Narendra Modi on Tuesday invited global investments in India's energy sector, saying the country offers immense possibilities in its pursuit of ambitious renewable energy transition goals in the next five years. Referring to the target of having 500 GW of renewable energy, 5 million tonnes of green hydrogen per annum output by 2030 as well as the launch of fresh bidding rounds for oil and gas assets, the prime minister said "there are possibilities of new investments and I hope that you explore all possibilities in India". "There are many possibilities of investment in these sector," Modi said addressing the India Energy Week 2025 (IEW'25) virtually.

"You are not just a part of India energy week, you are an important part of India's energy ambitions," Modi told investors. He further said, "All experts are saying that 21st century is India's century. Bharat is not only driving it's own growth but driving global growth." India's energy ambitions, he said, are based on five pillars. "We have resources which we are harnessing. We are encouraging our brilliant minds to innovate. Thirdl y, we have economic strength and politically stability," he said. Also, he said, India has strategic geography which makes energy trade easier and more attractive. Besides, India is committed towards global sustainability and this is aiding new possibilities in the country's energy sector, the prime minister said. For Viksit Bharat, the next two decades are very crucial, he said, adding that in the next five years we will cross many milestones. "Our energy goals are aligned with the deadline of 2030," he said.

By 2030, we want to add 500 GW of RE capacity, Indian Railways will be net zero by 2030 and we aim to achieve 5 MT annual output of green hydrogen, he said and stressed "whatever India has achieved in last ten years shows that these targets will be achieved". In last 10 years, India has become 5th largest economy from 10th largest. In last 10 years, solar generation capacity increased 32 times, he noted. Today India is the third largest solar power generating nation and its non-fossil fuel capacity increased three times, he said. India is the first country among G20 nations to meet its carbon emission reduction target set by the Paris global climate conference, he said. About ethanol blending with petrol, he said today India is blending 19 per cent ethanol and exuded confidence that India will achieve the target of 20 per cent ethanol blending ahead of the October 2025 deadline.

He boasted India's feedstock of 500 million tonnes and said the Global Biofuels Alliance formed during the G20 Summit in New Delhi has 28 member countries and 12 international organisations. Addressing the gathering at the International Energy Week, the prime minister said that India is bringing out reforms to exploit the full potential of exploration and production of hydrocarbons in the country.