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.