GURUGRAM, Apr 22:  Union Minister Pralhad Joshi on Tuesday said 40 GW of renewable energy (RE) can soon come online as talks are on with states for signing power purchase agreements (PPAs).

  “We are targeting 50 GW of RE capacity annually to meet the 500 GW target by 2030 , which of course includes 292 GW of solar energy”, Joshi told reporters on the sidelines of inauguration of solar PV module testing facility at National Institute of Solar Energy here.

India added 29.52 GW RE capacity in 2024-25.

The New & Renewable Energy Minister said peak power demand will double in 2032 from the present levels.

The peak power demand touched all-time high of 250 GW in May 2024.  The power ministry has estimated 270 GW peak power demand during this summer.

Joshi said India needs to create innovative solutions to maximize solar energy generation from available land resources.

The minister also called for use of innovative solutions for using building materials like glass to generate solar energy from limited space available like in high-rise buildings.

He said talks are on with states to sign PPAs for 40 GW RE projects.

Joshi also said that 12 lakh households have installed rooftop solar under Pradhan Mantri Surya Ghar Muft Bijli Yojana. (PTI)