March 21, 2023

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India registers $ 14.5 billion in renewables: IEEFA

India added 15.5 GW of renewables in the 2021-22 financial year, bringing the total installed capacity to 110 GW in March 2022.

Investment Renewable energy Inside India Reached $ 14.5 billion in the last fiscal year (2021-22); This is an increase of 125% compared to the 2020-21 financial year and 72% compared to the 2019-20. This was announced with the latest report from the Institute of Energy Economy and Financial Analysis (IEEFA Its abbreviation in English).

The author of the report, Vibudhi Cork, Energy Economist and Head of the Indian Division for the IEEFA, stated:

The increase in investment in renewable energy is due to the reactivation of demand Electricity After the break COVID-19; And commitments of companies and financial institutions to abandon net zero emissions and fossil fuels. After falling 24% from $ 8.4 billion in 2019-20 to $ 6.4 billion in 2020-21, the epidemic has seen a strong recovery in renewables, while controlling electricity demand.“.

The report highlights key investment deals made in the 2021-22 financial year; Found that more money flowed through the acquisition of 42% of the total investment in the 2021-22 financial year. Most of the other big deals were compiled into bonds, debt equity investment and mezzanine finance.

SB Energy’s exit from India’s renewable energy sector is the largest deal to sell assets worth $ 3.5bn to Adani Green Energy Limited (AGEL).

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Among other major deals, Reliance New Energy Solar acquired assets owned by REC Solar; And a number of companies including Vector Green, AGL, Renew Power, Indian Railway Finance Corporation and Azure Power are raising money in the bond market.

India added 15.5 GW of renewable energy capacity in the financial year 2021-22, bringing the total installed renewable capacity (excluding large hydro) to 110 GW in March 2022; Renewable energy capacity is still far from the target of 175 GW by the end of this year.

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