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India will need around $500 billion (£360bn) in additional investment to reach the target of 450GW of renewable capacity by 2030.
A new report by the Institute for Energy Economics and Financial Analysis (IEEFA) estimates approximately $300 billion (£216bn) is necessary for wind and solar infrastructure.
The analysis also highlights the country’s goal necessitates nearly $50 billion (£36bn) on grid investments such as gas peakers, hydro and batteries, and $150 billion (£108bn) on expanding and modernising transmission and distribution.
A few days ago, the International Energy Agency’s India Energy Outlook 2021 estimated India will need $1.4 trillion (£1tn) in additional funding for low emissions technologies in order to be on a sustainable path over the next 20 years.
Two reports on Tuesday looked into coal demand in India s electricity mix and global financial flows moving to renewable energy industry.A week earlier, International Energy Agency s (IEA) India energy outlook said India would need a massive .
Read more about Global investors move to renewable sector as coal demand dips in India on Business Standard. International Energy Agency s (IEA) India energy outlook said India would need a massive investment of $1.4 trillion if it were to aim for net zero by mid 2060
India to see $500-billion investment in renewables by 2030: IEEFA report
A report by the Institute for Energy Economics and Financial Analysis (IEEFA) says that a huge global capital pool is mobilising to invest in renewable energy and grid projects in India
Source: Reuters
India is set to see investments to the tune of around $500 billion in the renewables sector if the country has to achieve the target of 450 gigawatts (GW) of capacity by 2030, said a report by the Institute for Energy Economics and Financial Analysis (IEEFA).
The report highlighted that a huge global capital pool is mobilising to invest in renewable energy and grid projects in India, with pull factors including 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). The renewable energy sector in India has received more than $42 billion in investment since 2014.