India needs $220 billion in investment by 2030 for renewable energy expansion, said MNRE secretary Santosh Kumar Sarangi. The funds will support solar, wind, and green hydrogen projects. The government is now working on a roadmap to mobilise these resources, as many financiers and developers gather for upcoming industry discussions.
Santosh Kumar Sarangi, secretary, Ministry of New and Renewable Energy (MNRE) | Image: www.seci.co.in
India requires $220 billion in investment by 2030 in the renewable energy sector across various areas, including deployment, manufacturing, transmission and green hydrogen, said Santosh Kumar Sarangi, secretary, Ministry of New and Renewable Energy (MNRE), at a media briefing ahead of the Bharat Renewable Energy Summit 2026. He said the government was working on a roadmap to ensure these resources could be mobilised over the next four to four-and-a-half years.
The $220 billion investment roadmap comprises $70 billion for solar power, $20 billion for energy storage, $25-30 billion for wind, $15-20 billion for manufacturing, $20-25 billion for green hydrogen, $40-45 billion for transmission, $3-5 billion for bioenergy and $12-15 billion for hydropower, MNRE Joint Secretary J V N Subramanyam said.
Sarangi said there would be joint discussions among financiers, developers and manufacturers at the event to work out a roadmap for the required investment in the sector.
Citing a recent study, Sarangi said investment of about $64 billion had come into the renewable energy sector between July 2024 and June 2026. "Out of the total, $6.2 bn has come as foreign direct investment (FDI) and the rest is from the domestic market. During the same period, about $6 bn of government expenditure has been incurred in promoting renewable energy."
He further said the ministry was working on developing a framework for assigning exploration rights for geothermal energy, similar to what happens in the case of petroleum exploration. "We should be ready with that within a month or two," he added.
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Alongside the BRE Summit, the ministry will also organise the International Conference on Green Hydrogen. It will also feature offtake agreements in the area of green hydrogen. "Cumulatively, India has backed the highest export orders as far as green hydrogen and its derivatives are concerned. Until now, Indian green hydrogen developers have secured about 5.5 lakh MTPA orders and in 2026 itself, they have secured orders of 4.5 lakh MTPA," the secretary informed.
Highlighting the future potential of the green hydrogen sector, the secretary said the application potential was huge. "In DRI steel plants, there is a huge potential to apply green ammonia, with a number of pilots already happening. Similarly, in the transportation sector, there is a huge potential. Currently, India is also undertaking an experiment in 10,000 acres of land in 6 states across 10 different crops to inject ammonia directly in the soil instead of spraying urea," he said. This will increase efficiency and reduce costs and losses due to volatilisation and irrigation, according to Sarangi.
He also said the European Union, Japan and Korea were markets looking at greater sourcing of green ammonia and green methanol.