India requires substantial investment in its renewable energy sector to meet its Nationally Determined Contributions (NDCs) and the target of reducing carbon emission intensity by 45 percent by 2030. Estimates suggest that around $300-400 billion will be needed by 2030. This amount covers the entire spectrum of renewable energy infrastructure, including generation, transmission, distribution, and storage.
Specifically, to achieve the target of 500 gigawatts of renewable energy capacity by 2030, an investment of approximately $350 billion is required. This sum is spread across various components of the renewable energy sector. India is mobilising around $25 billion for these efforts, highlighting a significant shortfall in capital. This gap underscores the need for increased investment to meet renewable energy targets.
International investment and financing
This story is from the September 2024 edition of EPR Magazine (Electrical & Power Review).
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This story is from the September 2024 edition of EPR Magazine (Electrical & Power Review).
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