India is looking at a mammoth $500 billion worth of investment in creating renewable energy generation capacity with tendering of 500 Gigawatt (Gw) by 2028 in addition to $250 billion investment in grid expansion and modernisation required for uptake of green energy capacity, according to the Institute of Energy Economics and Financial Analysis (IEEFA).
The global think-tank said in a special report the long-term outlook is favourable for renewable energy in India as the country saw a dramatic decline in the wholesale electricity tariffs from solar and wind generation sources in 2017-18 with capacity consistently awarded at sub-Rs3 per unit through reverse bidding auctions.
“With zero indexation on these tariffs, renewables have broken through grid parity and have continued to increasingly capture the market share as the new low cost source of capacity since 2017,” Read More
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