The country’s development needs and fiscal constraints could pose a challenge to meet the Modi government’s ambitious net zero emissions target by 2070 or intermediate goals by 2030, global rating agency Moody’s said.
“The pace of India’s carbon transition will depend on the extent to which the government can balance energy affordability and reliability needs against its emissions reduction commitments,” Abhishek Tyagi, Moody’s vice- president and senior credit officer said.
“Reduced storage costs and the scalability of renewable projects with storage would support a faster transition,” Tyagi added.
