India's renewable energy sector is experiencing a surge in investor interest, with significant funding commitments and ambitious government targets driving the country's green transition.
India has been asking investors to support its green transition for several years, and its renewable energy industry appears to finally be picking up momentum. The South Asian country continues to rely heavily on fossil fuels, with no possibility of a rapid shift away from oil, gas and coal to renewable alternatives.
However, the commissioning of large solar farms has slowed in recent years, with more solar capacity needed to meet the growing energy demand in place of dirtier alternatives, such as coal. To help India achieve its 2030 climate goals, financial institutions have pledged $386 billion in financing for renewable energy projects by 2030. India will have to install a minimum of 44 GW of clean energy capacity a year between now and the end of the decade to meet its renewable energy goals.
Renewable Energy Green Transition Investment Solar Power Wind Power Climate Change COP29 Narendra Modi Tata Power
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