NEW DELHI: Domestic power sector is poised to experience substantial investment, primarily propelled by renewable energy and electricity transmission projects, stated Moody’s Ratings on Tuesday. The report said the sector will need $190 billion to $215 billion investment for achieving renewable energy capacity target by 2030. India aims to achieve 500 GW of renewable energy capacity by 2030, with an annual capacity addition of nearly 44 GW. “Renewable energy and transmission projects will be the driving force behind power sector investments,” remarked Moody’s. The report also noted that strong policy support has helped India increase the share of renewable energy in its power capacity mix to around 43 percent in fiscal 2023-2024.

Source: Indian Express June 07, 2024 03:32 UTC