Need $30 bn yearly investment in renewables, strong regulation: Report
India ideally needs $30 billion investment per year in the renewable sector, backed by a strong regulation to preserve contract sanctity, according to a research organisation.
“Today, we are averaging about $11 billion a year in renewable investments, we ideally should be getting $30 billion per year in India,” Arunabha Ghosh, chief executive officer of Council on Energy, Environment and Water, said.
He was speaking at Singapore International Energy Week where a series on energy conferences were concluded over the weekend. It was held between October 29 and November 1.
Enforce regulation, make transparent bidding process at tendering stage and preserve the sanctity of contract, Ghosh said, acknowledging that some sectors have done well in this area while others are not that up to the mark.
