Mumbai, Feb. 24 -- M Nagaraju, Secretary, Department of Financial Services (DFS), on Monday, said that India's ambitious target of achieving 500 gigawatts (GW) renewable energy target by 2030 requires Rs 33 lakh crore.

Speaking at the National Workshop on Mobilising Finance for Renewable Energy in Mumbai, the DFS Secretary further said that one-third of the necessary investment would come from private investors, with Public Sector Banks (PSBs) pledging Rs 10 lakh crore.

He added that renewable equity is sustainable and prepared for the future, and this area continues to draw investors.

"Public Sector Banks (PSBs) have pledged Rs 10 lakh crore, contributing 1/3rd of the required investment, while the remaining will come from private inv...