India Unveils $109 Billion Power Grid Upgrade

India has announced an ambitious National Electricity Plan aimed at achieving 500 GW of renewable energy capacity by 2030 and over 600 GW by 2032, with an investment of approximately $109 billion. Key elements of this plan include the construction of extensive high-voltage direct current transmission lines and the integration of battery energy storage systems to manage the intermittent nature of renewables. The initiative is projected to enhance inter-regional transmission capacity and support the establishment of green hydrogen and ammonia hubs. Power Minister Manohar Lal emphasized that this transformation is not merely about increasing capacity but reimagining India's energy landscape to meet a projected power demand surge to 708 GW by 2047. The plan also aligns with India's commitment to achieving net-zero emissions by 2070 and reducing carbon emissions by one billion tons by 2030. Financial institutions have committed substantial investments to support this green energy transition, reflecting a growing momentum towards renewable energy in India.