Decarbonisation to see $395 bn capex by 2030: Report

As the country moves more aggressively towards its decarbonisation goals with the overall energy economy shifting towards greener fuels, a Wall Street brokerage has said this space will see a capex of USD 395 billion by 2030.At COP21 in Paris, as part of its nationally determined contributions, New Delhi had committed to achieve 40 per cent of installed electricity capacity from non-fossil energy sources by 2030.

But the target was achieved well ahead of schedule in November 2021 with installed renewable energy capacity reaching 150.05 GW, and nuclear energy capacity at 6.78 GW, said the Union Ministry of New and Renewable Energy last month and reiterated its commitment to achieving 500 GW of installed electricity capacity from non-fossil fuel sources by 2030.

This brings total non-fossil fuels based installed energy capacity to 156.83 GW, or 40.1 per cent of the total installed capacity of 390.8 GW, in line with the government announcement at the COP26 at Glasgow in November.Addressing the media on Monday, Amish Shah, a research analyst at Bank of America Securities India, said the country now is aligned with large economies on decarbonisation efforts.