NEW DELHI, Feb 3:
The renewable energy sector has expressed enthusiasm over the Union Budget 2025-26, citing the emphasis on clean energy, manufacturing, and sustainability as key drivers for growth.
During a session in the Lok Sabha on Saturday, Union Finance Minister Nirmala Sitharaman unveiled her record-breaking eighth consecutive Union Budget.
Vineet Mittal, Chairman of Avaada Group, commented that strategic initiatives such as the establishment of global manufacturing clusters and advancements in clean technologies through the National Manufacturing Mission will help elevate India to a global industrial leader.
Sumant Sinha, Founder, Chairman & CEO of ReNew, noted that the Rs 20,000 crore earmarked for nuclear energy and the proposed legislative reforms reflect a progressive outlook on energy security and decarbonization.
Nikhil Sawhney, Managing Director of Triveni Turbines, stated, “We view these initiatives as a major catalyst for innovation, sustainability, and self-reliance, underscoring India’s leadership in advanced energy solutions.”
Abani Jha, CFO of Saatvik Green Energy, expressed that the government’s ongoing commitment to bolster domestic production of solar cells, modules, and grid-scale batteries coincides with Saatvik Green Energy’s goal of fostering India’s self-reliance in solar technology and minimizing import dependence.
Yogesh Dua, CEO of UTL Solar, emphasized that the heightened focus on rooftop solar is crucial for achieving national energy security and sustainability goals. The government’s allocation of Rs 20,000 crore for the flagship rooftop solar initiative (PM Surya Ghar Muft Bijli Yojana) reflects a strong dedication to sustainable energy and environmental responsibility.
Anurag Choudhary, CMD & CEO of Himadri Speciality Chemical, hailed the proposal to fully exempt basic customs duty on lithium-ion battery (LiB) scrap and essential minerals like lead and zinc as a significant policy change. This will streamline efficient recycling practices, ensure a consistent supply of crucial raw materials, and improve their availability for domestic producers.
Discussing the budget, Amit Paithankar, Whole-Time Director & CEO of Waaree Energies, remarked, “The introduction of the National Manufacturing Mission, along with improved PLI schemes and tariff adjustments for critical minerals, will propel the swift advancement of the entire renewable energy ecosystem.”
Mamtamayi Priyadarshini, Chairperson of the Indian Industries Association – Delhi Chapter – stated that the raised loan limits for MSMEs and startups will act as a vital support for various industries.
Parag Sharma, CEO & Founder of O2 Power, mentioned that while the budget includes measures to enhance the renewable energy sector, the industry requires a holistic approach that encompasses land reforms, grid security, and expedited execution of power purchase agreements to speed up India’s transition to clean energy.
Rajeev Kashyap, SVP and General Manager for Nextracker in India, the Middle East, and Africa, remarked that the focus on increasing domestic manufacturing of essential components such as grid-scale batteries, electrolysers, and solar cells is pivotal for the renewable energy industry. This initiative will reduce reliance on imports and lower costs, making clean energy more accessible. (PTI)
