February 16, 2021 Read More →

Cause for optimism in India, despite $500B needed to meet target

The Economic Times:

The Indian renewable energy sector will need investments of $500 billion over the coming decade to meet its 450 GW target, a report by the Institute for Energy Economics and Financial Analysis (IEEFA) said.

However, the study added that global capital is mobilising as investors continue to remain optimistic about the sector moving forward.

“We estimate that striving for 450 gigawatts of renewable energy by 2030 would require deploying $500 billion of investment over the coming decade – $300 billion for wind and solar infrastructure, $50 billion on grid firming investments such as gas-peakers, hydro and batteries, and $150 billion on expanding and modernising transmission and distribution,” said Tim Buckley, co-author of the report and Director Energy Finance Studies, South Asia at IEEFA.

[Shashwat Mohanty]

More: Indian renewable energy sector will need investments of $500 billion to meet 450 GW target: Report

Posted in: IEEFA In the News

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