Mumbai, Feb. 25 -- M Nagaraju, Secretary of the Department of Financial Services (DFS), announced on Monday that India's ambitious goal of achieving 500 gigawatts (GW) of renewable energy capacity by 2030 will require an investment of Rs 33 lakh crore.

Speaking at the National Workshop on Mobilising Finance for Renewable Energy in Mumbai, Nagaraju outlined the funding strategy for this significant national initiative.

The DFS Secretary explained that public sector banks have committed Rs 10 lakh crore to the renewable energy sector, which represents approximately one-third of the total required investment.

The remaining two-thirds of the funding is expected to come from private investors. Nagaraju highlighted the attractiveness of rene...