Renewable Energy sector to break out of torpor in 2024

Multilateral discussions on shifting away from fossil fuels and relying more on renewable energy (RE) capacity seemed to put India in a tough spot in the past year. The government, however, asserted repeatedly through the year – including at the COP28 summit held in Dubai in November –the country’s dependence on coal-based capacity will not only stay, but it would also have to scale up thermal power before the phasing down starts.

This ‘balanced’ approach was considered appropriate by most analysts as the country’s power demand reaches new peaks.