Fitch Solutions Macro Research on Tuesday said it is maintaining a positive outlook on India’s renewables growth, excluding hydro power, irrespective of general elections as both the incumbent and the opposition support clean energy.
“We maintain a positive outlook on India’s non-hydro renewables growth regardless of India’s Lok Sabha election outcome, as both the incumbent government and main opposition remain strongly supportive of renewables growth,” Fitch Solution Macro Research said in its outlook for India’s renewable energy sector.
The Fitch Group unit expects the country’s non-hydro renewables capacity to grow at a robust annual average growth rate of 11.1 per cent from 71.7 gigawatt (GW) in 2018 to over 204 GW by 2028, with solar being the main driver of this expansion.
Despite the strong renewables growth, it highlighted that coal will remain dominant in the country’s power generation mix over the next decade. Read More