The inaugural edition of the IVCA Renewable Energy Summit featured a power- packed address by Shri Pralhad Joshi, Union Minister, New and Renewable Energy, Government of India. Speaking to a global and domestic audience of investors, regulators, cleantech developers, and fund managers, the Minister drew attention to the Government of India’s forward-looking policies on renewable energy and how the country is leading the global energy transition.

“This is not just an energy transition for us; it is a global reset — and India is leading the way. We have already surpassed44%non-fossilfuel capacity, achieving our2030target five years ahead of schedule. With 245 GW of non-fossil capacity installed — including 117 GW of solar and 51.7 GW of wind — India today stands as a renewable energy powerhouse. Solar tariffs have fallen nearly 80%, making clean energy not only sustainable, but also more cost-effective than conventional sources,” he said.

Keynote Address by Shri Pralhad Joshi,Union Minister,New and Renewable Energy, Government of India at the IVCA Renewable Energy Summit, 2025 in Mumbai.

Shri Joshi added that in FY2024–25 alone,India added nearly 30GW of renewable capacity—the highest ever in a single year. Solar energy led the way with a record 23.83 GW added, while wind installations surpassed 50GW cumulatively. “This remarkable growth reflects our steady progress toward achieving 500 GW of non-fossil fuel capacity by 2030,” he said.

He pointed to key initiatives like the National Green Hydrogen Mission,
with an outlay of ₹19,744 crore, aimed at positioning India as a global hub for hydrogen production, usage, and exports.

Other highlights includedthe30GWhybridrenewableenergypark in Gujarat’s Kutch and the largest waste-to-energy plant in Ahmedabad, demonstrating India’s capacity to scale innovative, sustainable solutions.

Shri Joshi also spotlighted the strong conviction of investors in the nation’s renewable energy sector. “In 2024 alone, 83% of all power sector investments in India went into renewables, drawing $2.4 billion in global development finance. Since 2020, cumulative FDI has exceeded ₹1.6 lakh crore, including ₹42,000 crorein2023—nearly double the pre-COVID levels. InjustQ1 of2025,clean energy investments surged to
$9.8billion(₹81,700crore),a7.7-timesincreaseyear-on-year,”he said.

On India building the back bone of clean energy manufacturing,Shri Joshi noted, “Solar module production capacity has more than doubled—from 39GW to nearly 91GW—while solar cell capacity grew from11GW to 25 GW, reducing import dependency and boosting self-reliance. Under the Pradhan Mantri Surya Ghar Muft Bijli Yojana, over 16.5 lakh households have benefited, with more than 15 lakh rooftop solar installations in the past 12 months alone.”

Commenting on the road ahead, Shri Joshi said, “With over ₹3.8 lakh crore expected to flow into India’s renewablesectorby2026–27,now is the time to invest in theworld’s fastest-growing clean energy economy.

InvestinginIndia’srenewableenergysectorisnotjustsustainable,itis profitable, future-proof, and globally impactful.”

About Indian Venture and Alternate Capital Association(IVCA):

IVCA is a not-for-profit, apex industry body promoting the alternate capital industry and fostering a vibrant investing ecosystem in India. IVCA is committed to supporting the ecosystem by facilitating advocacy discussions with the Government of India, policymakers, and regulators, resulting in the rise of entrepreneurial activity, innovation, and job creation in India and contributing towards the development of India as a leading fund management hub.IVCArepresents450+ funds with a combined AUM of over
$350billion.

Our members are the most active domestic and global VCs, PEs, funds for infrastructure, realstate,creditfunds,limitedpartners,investmentcompanies,familyoffices,corporateVCs,andknowledge partners. These funds invest in emerging companies, venture growth, buyouts, special situations, distressed assets, and credit and venture debt, among others.