With the Modi government’s mega push for clean energy generation capacities, India is set to overtake the European Union in expansion of new renewable energy generation capacity for the first time, according to the International Energy Agency(IEA).
India’s move to address the financial health of its power utilities and tackle grid-integration issues drive a more optimistic forecast, the Paris-based agency said in its latest report Renewables2017. “By 2022, India renewable capacity will more than double. This growth is enough to overtake renewable expansion in the European Union for the first time,” the report said.
The IEA added that Solar Photo Voltaic (PV) and wind together represent 90 per cent of India’s capacity growth as auctions yielded some of the world’s lowest prices for both technologies. The Modi government is working on an ambitious plan to increase the installed base of domestic renewable energy capacity to 175 Gigawatt by 2022. Read More…
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