(Zee Business)
India is on track to catalyse $200-300 billion of new investment in its renewable energy infrastructure in the next decade with global capital inflows playing an increasingly crucial role, a top financial analyst with a leading US-based institute foresees.
India`s decarbonisation policy is in line with global trends which, since 2011, have been seeing investments in renewable energy infrastructure running at two-three times of that for new fossil fuel capacities, Tim Buckley, Director of Energy Finance Studies Australasia with the Institute for Energy Economics and Financial Analysis (IEEFA), said.
At present, India relies on thermal power generation for 80 per cent of its electricity, while hydro supplies a significant 10 per cent and renewables just seven per cent. However, India has set an ambitious but achievable national target of 275 GW of renewable capacity installed by 2027.
