India will require $215 billion to reach 500 GW renewable energy by 2030

• 19 days ago (2024-06-13)
• David Flin

Asia 859 Renewables 757

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According to a report from Moody’s Ratings , “India will require $190-$215 billion of investment over the next seven years to achieve the target of 500 GW of renewable energy capacity by 2030.”

It added that the country will also require an additional $150-170 billion of investment for electricity transmission and distribution.

Abhishek Tyagi, Vice President and Senior Credit Officer at Moody’s, said: “The sizeable pipeline of announced projects will keep the financial leverage of renewable power companies rated by Moody’s high over the next two-three years, but the leverage of government-related issuers will remain moderate over the same period.” He also highlighted the strong growth in the country’s renewable energy capacity to continue but coal will remain a major source of electricity generation over the next 8-10 years.