Gujarat has made remarkable strides in the Renewable Energy (RE) sector. The state has achieved significant milestones, including the creation of Asia’s largest “Gujarat Solar Park” at Charanka (700 MW), India’s first canal-top solar power project, and India’s first grid-connected megawatt-hour-scale Battery Energy Storage System (BESS) project, providing round-the-clock solar power to every household in Modhera village, Mehsana district. Gujarat is also in the process of developing the world’s largest 30 GW Wind-Solar Hybrid RE Park in Kutch.
Moreover, the state has set a target to reach 80 GW of RE by 2030, with an impressive 30 per cent of this goal already achieved, totaling 22.5 GW. The state is a leader in harnessing onshore wind power potential and is exploring offshore wind power opportunities along its coastline. Additionally, Gujarat is rapidly adopting Electric Vehicles (EVs), with over 60,000 EVs already registered out of the targeted 2 lakh EVs by 2025. With its sustainable industrial development model, Gujarat is a preferred business-friendly destination.
Gujarat’s strategic location, abundant coastline, and favorable conditions for wind and solar energy make it a top destination for renewable energy projects. Through the Vibrant Gujarat platform, the state government actively attracts investments and fosters collaborations in the renewable energy sector, driving the development of wind farms, solar parks, and other clean energy initiatives.
Investment Opportunities in Gujarat:
Gujarat offers diverse investment opportunities in the renewable energy sector, spanning manufacturing, services, and infrastructure development. This includes the manufacturing of solar cells & modules, wind turbines & blades, power system ancillaries, and battery energy storage systems.
Additionally, Gujarat presents prospects for renewable energy park development, EPC contracts, and establishing transmission and distribution networks. Services like installation, technical support, operational and maintenance support, and third-party power providers are also thriving opportunities.
Furthermore, Gujarat encourages investments in waste segregation, briquette production, and processing, fostering a comprehensive ecosystem for sustainable energy development.
Industries Hail Gujarat’s Business-Friendly Environment:
Renewable Energy Industry leaders such as Powerica, Siemens, Vestas, GE, and Suzlon have been successfully running Wind Energy Projects in Gujarat for over a decade.
For instance, Powerica is the first private sector company to commission a 50.6 MW wind power project through Gujarat’s first wind auction (E-auction) in 2019, ahead of schedule. Powerica’s dedication to customer satisfaction and advanced technology solidifies its position in Gujarat’s renewable energy landscape.
Suzlon Group, India’s largest renewable energy solutions provider, has installed over 20 GW of wind energy globally, with substantial manufacturing facilities in Gujarat. Over 13 GW of Suzlon’s wind energy installations are in India, making Gujarat a vital part of their domestic operations.
Gujarat – The Premier Destination for Renewable Energy:
Gujarat stands as the premier destination for the renewable energy sector in India, with an impressive 46.24 per cent (as of August 2023) of its total installed capacity coming from renewable sources. This achievement underscores Gujarat’s commitment to sustainable energy and its leadership in India’s renewable energy landscape.
Additionally, Gujarat contributes 15.2 per cent of India’s total electricity generation from renewable sources, playing a pivotal role in the nation’s transition to cleaner energy alternatives. With ambitious targets, innovative projects, and potential for sustainable industrial development, Gujarat offers unparalleled investment and growth opportunities in the renewable energy sector, making it the top choice for businesses and investors.
Gujarat’s notable policy initiatives in the Renewable Energy sector, including the Gujarat Waste to Energy Policy 2022, Gujarat State Electric Vehicle Policy 2021, Gujarat Solar Power Policy 2021, and Gujarat Wind Power Policy 2016, are driving sustainable energy practices and environmental conservation.
The Vibrant Gujarat Global Summit 2024 will further promote green growth, climate finance, and SDG progress. With sessions on decarbonizing the economy, circular economy opportunities, and energy transition, it aims to reinforce Gujarat’s position as a green energy hub.