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India secures $100bn for renewable investment

24 Nov 2015

Investments over $100 billion in the past year are driving an unprecedented shift to renewable energy in India, according to a new report from the Institute for Energy Economics and Financial Analysis.

The Indian government estimates it will take about $200 billion to finance its clean energy goal of 175 gigawatts of additional renewable capacity by 2022, up from 36 gigawatts today.

October alone saw more than a dozen major deals in the green sector, most notably Sany group, China announcing plans to invest $3 billion in Indian renewables by 2020, Chint Group, China, committing $2 billion by 2020, and the German government pledging €1.5 billion over five years to support India’s solar energy expansion through a German-Indian solar partnership.