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Half-trillion investment needed to meet India’s 2030 renewable target

February 16, 2021

NS Energy:

A huge global capital pool is mobilising to invest in renewable energy and grid projects in India – but how much investment is needed to reach the country’s 2030 target?

The South Asian nation – which is the world’s third-largest emitter – is aiming to increase its clean energy capacity from about 90 gigawatts (GW) currently to 450GW by the end of the decade.

According to a report by the Institute for Energy Economics and Financial Analysis (IEEFA), pull factors for investing in India’s renewable energy push include solar power tariffs hitting record lows, plunging solar module costs, record low-interest rates, and the security of government-backed, 25-year power purchase agreements (PPAs).

“Domestic and global institutions across the financial, corporate, energy, utility and government sectors are primed to deploy a wall of capital that India needs to fund its ambitious renewable energy targets,” says Tim Buckley, report co-author and the IEEFA’s director of energy finance studies in South Asia. 

[James Murray]

More: How much investment is needed to hit India’s 2030 renewable energy target?

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