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

  • a month ago (2024-06-13)
  • David Flin
Asia 864 Renewables 761

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.”

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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.