INDIA’S RENEWABLE ENERGY SECTOR TO ATTRACT OVER $250 BN INVESTMENT – EQ
In Short : India’s renewable energy sector is poised to attract over $250 billion in investments. This substantial influx of funds highlights the growing interest and confidence in India’s renewable energy market. With ambitious goals to increase renewable energy capacity and reduce carbon emissions, India offers lucrative opportunities for investors in solar, wind, and other clean energy projects. This investment surge signifies a significant step toward India’s sustainable energy future and its commitment to combating climate change.
In Detail : India’s rapidly evolving renewable energy sector is projected to witness an influx of over $250 billion in investments, as per a report jointly released by EY and CII. Among the notable insights, the report indicates that solar PV manufacturing projects in the country, spanning those announced, under permitting, and those already under construction, could amass around US$15.5 billion. On a similar note, India’s pursuits in advanced chemistry cell battery manufacturing might see investments to the tune of approximately US$2.7 billion.
Highlighting the broader implications, the report elaborates on India’s strategy of solidifying global supply-chain resilience for renewable energy technologies and key components. It underscores the significance of meticulous planning for mega-scale investments and procurement of essential raw materials. Such endeavours will capacitate Indian entities to set up world-class electrolyzer manufacturing bases.
Furthermore, the study sheds light on pivotal policy mechanisms that can catalyze India’s transition to a renewable energy powerhouse. These include the uniform adoption of green energy open access rules, ensuring long-term stability in open access charges, and rigorous adherence to Renewable Purchase Obligations (RPO) and Energy Storage Obligations (ESO).
To facilitate international investors, EY has also unveiled ‘The Energy Transition Investment Monitor’. This dedicated platform is geared towards offering a comprehensive view of prospective investments right from their conceptual phase to their execution
