New Delhi: India is targetting to generate 40 percent of electricity from non-fossil fuel-based resources by 2030 as it looks to tap vast solar and wind potential to replace reliance on polluting coal to meet its energy needs, Prime Minister Narendra Modi said on Tuesday.
Modi said he saw the 121-country International Solar Alliance (ISA) as the future OPEC (Organization of the Petroleum Exporting Countries) for meeting energy needs of the world.
Oil cartel OPEC led by Saudi Arabia currently meets close to half of the world's oil needs.
Speaking at the first assembly of the ISA in New Delhi, he said the solar power will play the same role that oil wells have played over the past few decades in meeting global energy needs.
Humans have in the last 150-200 years relied on resources trapped below the earth's surface for meeting energy needs. But for a secure future, resources available above the ground like solar and wind energy need to be harnessed, he said.
Stating that the focus must be on renewable sources for meeting energy needs, he said India wants to bring all UN members on board of ISA.
Modi said 50 gigawatts of renewable energy will be soon added to existing capacity and non-hydro renewable will contribute 20 percent of total energy.
"This is the right time to invest in solar manufacturing," he said adding he saw an investment potential of $70-80 billion in solar manufacturing.
The prime minister said 31 crore LED bulbs save 40,000 million units of electricity and Rs 16,000 crore in a year.
He said 28 lakh solar pumps can save 10 gigawatts of electricity every year.
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Updated Date: Oct 02, 2018 23:10:58 IST