Brighter days await renewable energy space; investments likely to cross USD 15 billion in 2022
After witnessing cloudy skies this year, the country’s renewable energy sector is expected to boom with a likely investment of over USD 15 billion in 2022 as the government focuses on electric vehicles, green hydrogen, manufacturing of solar equipment as well as achieving the ambitious 175 GW renewable capacity target.
India, which has an installed renewable energy generation capacity of a little over 150 GW, aims to reach 175 GW in 2022. Out of the total mix, 100 GW would be from solar, 60 GW from wind, 10 GW from bio-power and 5 GW from small hydro power projects.
“In 2022, we expect the investment in renewable energy to cross at least USD 15 billion,” Union Minister for Power and New and Renewable Energy R K Singh told PTI.
