India’s efforts to curb emissions will open up new investment opportunities of Rs 9.4 lakh crore in the power sector over the next five years, according to a report by Edelweiss Securities. Renewable energy and installation of power plant equipment to lower emissions are expected to attract maximum investments in the power sector.
The country has set an ambitious target of installing 175 GW of renewable capacity by 2022 in a bid to meet its target of reducing emissions intensity by 33-35% by 2030 from the 2005 level, as promised by it in the 2015 Paris agreement. About 120 GW of additional renewable capacity is seen to be installed by FY24 versus 41GW over the last five years, with investment requirements soaring to Rs 8.6 lakh crore, compared with Rs 2.9 lakh crore over the last five years.
