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India will need $190-$215 bn investment for renewable energy capacity target
The Morning Standard
|June 07, 2024
DOMESTIC power sector is poised to experience substantial investment, primarily propelled by renewable energy and electricity transmission projects, stated Moody's Ratings on Tuesday.
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The report said the sector will need $190 billion to $215 billion investment for achieving renewable energy capacity target by 2030. India aims to achieve 500 GW of renewable energy capacity by 2030, with an annual capacity addition of nearly 44 GW. "Renewable energy and transmission projects will be the driving force behind power sector investments," remarked Moody's.
Despite the emphasis on renewables, coal will continue to play a significant role in meeting baseload power requirements, as per the report.
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