India is already on track to reach its goal of 175 GW of installed renewable capacity by 2022. Now, with the kind of initiatives the government and different companies are taking, it is likely that the renewable energy target to 450 GW by 2030 will also be achievable. The government is totally committed to enable its Paris Agreement commitments and companies are taking many efforts to ramp up capacity. India ranks second in BNEF climatescope report which evaluates investment conditions for clean energy in emerging economies across 108 countries.
During the pandemic, the government’s policy initiatives like – supporting force majeure, reducing repo rate, making solar plant O&M an essential service, removing tariff caps for solar tends, PLU scheme amongst others clears indicates the growing support towards solar energy. More