India’s green goal offers companies $500 billion opportunity, ReNew CEO says

India’s energy transition plans offer a $500 billion investment opportunity for companies through the end of the decade, as the nation seeks a record expansion in clean power, Sumant Sinha, Chief Executive Officer at ReNew Energy Global Plc, said.

The nation, the world’s third largest emitter of greenhouse gases, has set a target to nearly triple its generation capacity from non-fossil sources by 2030. To reach that goal, the government plans to auction 50 gigawatts of wind, solar and hybrid projects every year, offering companies, such as ReNew, a massive opportunity, Sinha told Bloomberg Television in an interview Wednesday.