The Power Of India Goes Green

Why India is the new hotspot for renewable energy investors

Sumant Sinha, 14 January 2020 (World Economic Forum)

“…[Driven by] a highly conducive policy environment, a steady influx of capital, falling prices and new technologies, India’s renewable energy industry ramped up capacity] at an annual growth rate of 17.5% between 2014 and 2019 and [increased] the share of renewables in India's total energy mix from 6% to 10%...[India has an installed renewables capacity of] 83 GW, plus 31 GW under development and a further 35 GW out for tender…[and] is among the top-five clean-energy producers globally…[It] is now eyeing 225 GW from renewables by 2022 and a target of 40% clean energy by 2030…[Investment from both domestic and foreign sources was] more than $42 billion of investment since 2014 and around $7 billion of foreign direct investment (FDI) between April 2000 and June 2018…

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In 2017-18, total FDI grew more than 20% to $1.4 billlion. Multilateral and bilateral agencies, as well as sovereign wealth funds, have pumped significant FDI into the Indian green energy space, spread across solar and wind power generation firms, electric vehicles and storage projects… [Though one-sixth of the world’s population, India’s per-capita consumption is] roughly 1/4th that of China and 1/13th that of the US…[But industrialization, urbanization, rising incomes and population growth are expected to roughly double its share of] global primary energy demand] to around 11% by 2040…[To reduce its carbon footprint by 35% from 2005 levels would require] adding 25 GW of renewable capacity annually until 2030…[which would be annual investment] of over $30 billion…” click here for more

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