The Ministry of New and Renewable Energy (MNRE) will be organizing hackathons for startups in the renewable energy sector, with assured offtake agreements, to boost the indigenization of renewable energy technologies and solutions. This initiative was announced by Union Minister of New and Renewable Energy, Pralhad Joshi, during the concluding session of the two-day Chintan Shivir event held by MNRE in Bhubaneswar, Odisha.
The Minister also revealed plans to establish a new Joint Centre of Excellence for Research and Development in collaboration with the Ministry of Power, aimed at driving innovation and technological progress in the renewable energy (RE) sector. He emphasized the need to quickly finalize Power Purchase Agreements (PPAs) and enforce Renewable Purchase Obligations (RPOs) in order to ensure the success of renewable energy projects.
In addition, Joshi announced the formation of a dedicated task force involving all relevant stakeholders, to be set up by MNRE in partnership with the Ministry of Power, to achieve the target of 500 GW of renewable energy capacity by 2030. He pointed out that 288 GW of renewable energy capacity needs to be installed over the next six years, requiring an investment of INR 42 lakh crore, which will also cover the development of transmission infrastructure. For this to succeed, Joshi stressed, collaboration across all sectors is essential to tackle the challenges facing the RE industry.
The Minister also acknowledged Odisha’s vast renewable energy potential, highlighting its 140 GW of solar capacity and significant opportunities in green hydrogen production, due to the state’s long coastline and strong port infrastructure. “The Centre aims to make Odisha a key hub for renewable energy development and explore green hydrogen production opportunities in the state,” Joshi said. He also noted that the potential for floating solar panels in Odisha will be explored further.
Additionally, Joshi announced the establishment of a 6,000 MW manufacturing facility for solar modules, cells, and ingot-wafers in Dhenkanal District, Odisha, with an expected investment of around INR 9,000 crore. Another agency is setting up a 1,000 MW solar manufacturing facility in Infovalley-II, Khorda, Bhubaneswar, with an investment of approximately INR 730 crore.
Joshi also highlighted the success of the PM Surya Ghar Yojana, which is expected to achieve over 5 lakh solar installations by the end of November 2024. He further mentioned that the government is considering expanding the Production Linked Incentive (PLI) scheme to support domestic manufacturing of solar modules and cells.
The Ministry of New and Renewable Energy (MNRE) will be organizing hackathons for startups in the renewable energy sector, with assured offtake agreements, to boost the indigenization of renewable energy technologies and solutions. This initiative was announced by Union Minister of New and Renewable Energy, Pralhad Joshi, during the concluding session of the two-day Chintan Shivir event held by MNRE in Bhubaneswar, Odisha.
The Minister also revealed plans to establish a new Joint Centre of Excellence for Research and Development in collaboration with the Ministry of Power, aimed at driving innovation and technological progress in the renewable energy (RE) sector. He emphasized the need to quickly finalize Power Purchase Agreements (PPAs) and enforce Renewable Purchase Obligations (RPOs) in order to ensure the success of renewable energy projects.
In addition, Joshi announced the formation of a dedicated task force involving all relevant stakeholders, to be set up by MNRE in partnership with the Ministry of Power, to achieve the target of 500 GW of renewable energy capacity by 2030. He pointed out that 288 GW of renewable energy capacity needs to be installed over the next six years, requiring an investment of INR 42 lakh crore, which will also cover the development of transmission infrastructure. For this to succeed, Joshi stressed, collaboration across all sectors is essential to tackle the challenges facing the RE industry.
The Minister also acknowledged Odisha’s vast renewable energy potential, highlighting its 140 GW of solar capacity and significant opportunities in green hydrogen production, due to the state’s long coastline and strong port infrastructure. “The Centre aims to make Odisha a key hub for renewable energy development and explore green hydrogen production opportunities in the state,” Joshi said. He also noted that the potential for floating solar panels in Odisha will be explored further.
Additionally, Joshi announced the establishment of a 6,000 MW manufacturing facility for solar modules, cells, and ingot-wafers in Dhenkanal District, Odisha, with an expected investment of around INR 9,000 crore. Another agency is setting up a 1,000 MW solar manufacturing facility in Infovalley-II, Khorda, Bhubaneswar, with an investment of approximately INR 730 crore.
Joshi also highlighted the success of the PM Surya Ghar Yojana, which is expected to achieve over 5 lakh solar installations by the end of November 2024. He further mentioned that the government is considering expanding the Production Linked Incentive (PLI) scheme to support domestic manufacturing of solar modules and cells.
