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India’s renewable energy investments begin rebounding from Covid-19 disruption

August 20, 2021

pv magazine:

The Indian renewable energy sector is seeing a rise in investment again following a 24% year-on-year decline in FY2020-21 due to the onset of the Covid-19 pandemic, according to a new briefing note issued by the Institute for Energy Economics and Financial Analysis (IEEFA).

In the first four months of this financial year (FY), from April to July 2021, investment in the Indian renewable energy sector reached US$6.6 billion, surpassing the $6.4 billion level for FY2020-21 and on track to quickly overtake the $8.4 billion total achieved in 2019-20 before the pandemic.

“Rebounding energy demand and a surge of commitments from banks and financial institutions to exit fossil fuel financing are helping to drive investment into Indian renewable energy infrastructure,” said author Vibhuti Garg, Energy Economist, Lead India at IEEFA.

[Uma Gupta ] 

More:India sees renewable energy investments increase between April and July

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