A recent report titled ‘Low-cost finance for energy transition’ produced by the International Renewable Energy Agency (IRENA), has praised India’s achievement in rolling out renewable energy capacity, calling it “unprecedented”. “The country’s renewable energy sector has seen unprecedented growth driven by national targets of 175 GW of renewable energy capacity by 2022 and 500 GW of non-fossil fuel capacity by 2030,” the report says, noting that India ranked third on the Renewable Energy Attractive Index in 2021. IREDA has been serving India’s renewable energy sector and the government’s ambitions for the past 35 years. It has helped commission approximately 20 GW of renewable energy capacity in the country through financing to renewable energy developers, the report notes. Meanwhile, investment in sovereign green bonds will also be designated as specified securities under the “Fully Accessible Route” for foreign investors, where unlimited investment is allowed.

Source: The Hindu June 03, 2023 05:07 UTC