Investment of Rs 2.6 trillion required to meet target of 175 GW renewable energy

According to a new Parliamentary Standing Committee Report on Energy, the Ministry of New and Renewable Energy hasestimated that India will need to increase its investment in the renewable energy sector to Rs 2.6 trillion by December 2022 to meet its 175 GW target. 

In contrast, the average annual investment was significantly lower at Rs 823 billion in the last five years. The MNRE has stated that the annual expenditure on renewable energy would be required to be around Rs 1.3 trillion in 2021 and 2022, each. The current installed capacity is 87 GW and 30 GW more is under implementation. An investment of Rs 2.61 trillion will be required for the balance 58 GW of capacity, at a rate of Rs 45 million per MW. Of this,  Rs 1.827 trillion would be required in debt finance and Rs 783 billion in equity finance during the next 2-3 years.

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