Investing Heavily In Wind-Solar-Storage System, Cost Of Electricity To Come Down: Union Minister Pralhad Joshi At Adani Presents Times Network Sustainability Conclave 2026 Co-powered by MAHATRANSCO
Union Minister for New and Renewable Energy Pralhad Joshi said the government is investing heavily in battery storage system, and results will be seen soon. He said, “India was second largest in terms of battery addition last year. We are investing heavily in battery storage system, with the strong focus on wind, solar storage system. Results will be seen soon, and it will lead to taking the cost of electricity down.”
Speaking at the Adani Presents Times Network Sustainability Conclave 2026 Co-powered by MAHATRANSCO in New Delhi today, the minister highlighted India’s economic resilience. He added, “Despite the conflict in West Asia and uncertain global environment, India’s economy has ended the first quarter of the financial year on a very strong note. The hydrogen-powered train places India among the select group of nations investing in next-generation clean transportation technologies. Today, India is not just the world’s fastest-growing major economy. India is becoming the world’s most trusted growth story. We have committed to securing 60 percent and we have done it in 2025 itself, five years in advance.” He further added that India has also committed to reducing its emission intensity by 47 per cent by 2035.
Referring to India’s first hydrogen-powered train, Joshi said, “The hydrogen-powered train places India among the select group of nations investing in next-generation clean transportation technologies. Today, India is not just the world’s fastest-growing major economy. India is becoming the world’s most trusted growth story.”
During the session titled, ‘Financing India’s Green Economy,’ Shalabh Tandon, South Asia Regional Head of Operations & Climate Change at the International Finance Corporation (IFC), the private-sector arm of the World Bank Group, discussed investor sentiment towards India’s green transition. He added, “Most global investors are happy to take the India risk and invest in India.” However, he also specified on the currency risk adding, “In the last 1.5 years currency has taken a big hit, so the perception of global investors on currency has changed- so if they want to come to India as debt financiers, they are looking for hedging or swap mechanisms so they are coming in as lenders. If they are coming in as equity investors, then the currency risk becomes even more important, so they are looking at their overall portfolio book and seeing if this makes sense. The World Bank Group is working with the Government and regulator to see how we can play a role in managing this currency risk.”
The summit also featured a special video message from Mohan Yadav, Chief Minister of Madhya Pradesh, who said, “Inspired by Prime Minister Narendra Modi, we are successfully adding 1.1 lakh hectares of forest area every year through the ‘Ek Ped Maa Ke Naam’ initiative.”
The day long conclave also brought together several prominent voices, including actors and sustainability advocates Shriya Pilgaonkar and Adah Sharma, to discuss the role of individuals and communities in driving sustainable change. Themed ‘India 2035: A Self-Reliant Nation,’ the conclave explored critical themes such as renewable energy, green financing, technological innovation and citizen participation in achieving India’s long-term sustainability goals.