The pace of capacity addition in renewables is set to increase 33 per cent to about 20 gigawatt (GW) per annum over the current and next fiscals, according to CRISIL Ratings.
This bodes well for the economy, given the high multiplier effect of road development and the critical role renewable energy can play in achieving India’s energy transition.
“The pace of execution of renewable energy projects is set to increase 33 per cent to 20 GW per annum over current and next fiscals – 15 GW per annum in the past two fiscals – supported by a healthy executable pipeline of 50 GW of projects as on March 31, 2023,” said Gurpreet Chhatwal, managing director, CRISIL Ratings.
The growth is expected to sustain over the medium term, supported by conducive policies, strong investor interest and healthy financial profiles, leading to stable credit quality of companies in the CRISIL Ratings portfolio in both sectors.
