With India’s ambitious clean energy targets gaining momentum, the renewable energy sector eagerly anticipates the forthcoming Union Budget 2024. Regarded as a pivotal instrument in advancing the nation’s green agenda, the Budget is poised to unlock investments, streamline policies, and expedite the transition towards sustainable practices.
A collective vision of achieving 500 GW of renewable energy by 2030 has served as the guiding beacon for the sector, galvanizing stakeholders to outline critical expectations to ensure seamless progress.
One of the primary calls from stakeholders is for higher capital expenditure in renewable energy, with a specific focus on bioenergy, solar, and wind projects. Investments in green hydrogen and battery storage infrastructure are deemed imperative to meet the formidable targets set forth.
“The Government’s initiative on the Energy Industry in the Interim Budget 2024-25, including the significant push for offshore wind capacity development of 1 GW, represents a monumental stride for Renewable Energy companies like us. It heralds a significant step forward that will profoundly impact Bharat’s energy landscape. This initiative will not only spotlight but also catalyze infrastructure investment in green energy,” remarked Parag Agrawal, CFO of Juniper Green Energy.
Juniper Green Energy is poised to play a pivotal role in this transformative journey, aligning its efforts with the government’s vision of a sustainable and eco-friendly future. The company is committed to contributing to a future powered by innovation and a genuine passion for the planet.
Naivedya Agarwal, CEO & Co-founder, Runaya: The budget’s focus on supporting young people through technology is intriguing. The plan to enhance high-tech capabilities is excellent for providing India’s talented youth with a more independent and promising future. Adding a plan for solar panels on rooftops emphasizes our ongoing commitment to sustainability alongside technological advancements. It demonstrates a good balance between progress and environmental responsibility. Moreover, the government’s goal of achieving ‘net-zero’ by 2070 is a wise and forward-thinking initiative, outlining a clear path for long-term sustainability and environmental responsibility. In summary, the budget presents a detailed and promising plan for the country’s progress at the intersection of technology and sustainable development.
As India charts its course towards a cleaner and greener future, the Union Budget 2024 stands as a beacon of hope and opportunity for the renewable energy sector. With strategic investments, robust policies, and unwavering commitment, India is poised to emerge as a global leader in sustainable energy practices, driving economic growth and environmental stewardship hand in hand.