Brighter days await renewable energy space; investments likely to cross $15 billion in 2022

Excerpt from thehindu.com

After witnessing cloudy skies this year, the country’s renewable energy sector is expected to boom with a likely investment of over $15 billion in 2022 as the government focusses on electric vehicles, green hydrogen, manufacturing of solar equipment as well as achieving the ambitious 175GW renewable capacity target.

India, which has an installed renewable energy generation capacity of a little over 150GW, aims to reach 175GW in 2022. Out of the total mix, 100GW would be from solar, 60GW from wind, 10GW from bio-power and 5GW from small hydropower projects.

“In 2022, we expect the investment in renewable energy to cross at least $15 billion,” Union Minister for Power and New and Renewable Energy R. K. Singh told PTI.