Prime Minister Narendra Modi on Tuesday said India would seek to fulfil the goals of the 2015 Paris climate agreement by looking to generate 40% of its electricity from non-fossil fuel-based resources by 2030, PTI reported. He was speaking at an assembly of the International Solar Alliance in New Delhi.

Modi said he sees the 121-country body as the future supplier of the world’s energy needs and compared it to the Organization of the Petroleum Exporting Countries, which at present supplies about half the world’s petroleum requirements. “The role being played by oil wells today will one day be played by sun rays,” ANI quoted Modi as saying.

“This is the right time to invest in solar manufacturing,” the prime minister said. He added that solar manufacturing may attract investments between Rs 70,000 crore and Rs 80,000 crore.

“Power storage along with power generation is important,” Modi said. “We are working on the National Energy Storage Mission. Under this, the government is focusing on policy support to enhance demand creation, indigenous manufacturing, innovation and energy storage.”

The prime minister said that apart from solar energy, the Centre was also working on “B3” – biomass, biofuel and bio energy. “We are taking serious measures to convert the transport system in India to a clean fuel based one,” he added.