India will require investment between $500 billion and $700 billion in renewable energy sector and the supporting grid network over the next decade in order to meet its energy targets even as the country needs to resolve a few sovereign risk issues quickly.
These are the findings of a latest report by Australia-based Institute for Energy Economics and Financial Analysis (IEEFA). Titled “International Capital Awaits Robust Policy Environment in India’s Renewables Infrastructure Sector”, the report reviews India’s energy market and finds recent policy changes favourable for renewable energy investors.
The report’s author Tim Buckley — who is the Director of Energy Finance Studies at IEEFA — said the world is looking to invest in India’s renewable energy sector. “There has been clear momentum in India’s renewable energy capacity building in the last 24 months, leveraging the expanding opportunities in deflationary sustainable domestic projects,” he said.
He also said the country is set to reach 144 Gigawatt of renewable energy generation capacity by the end of 2021-22 and it has a clear ambition to transition to a cheaper lower emission electricity system and that ambition is attracting healthy global investment. Read More
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