Advertisement
Sunday, Oct 17, 2021
Outlook.com
Outlook.com

Investments into renewables seen rising 35% by FY23: Report

Investments into renewables seen rising 35% by FY23: Report
outlookindia.com
1970-01-01T05:30:00+0530
Mumbai, Oct 14 (PTI) Positive investor interest and enabling regulations can boost the investments into the renewables sector by a healthy 35 per cent to Rs 1.5 lakh crore between now and the end of fiscal 2023, says a report.

The past three years saw fresh investments into the renewables sector led by solar and partly by wind power, surging to Rs 1.1 lakh crore, showed a Crisil report in a sectoral analysis.

"Global investor interest and enabling regulations can fuel addition of 35 GW of renewables (solar and wind) capacity, involving Rs 1.5 lakh crore of fresh investments in the three years through fiscal 2023. This will be a 35 per cent growth over Rs 1.1 lakh crore invested in the past three fiscals," the report said on Wednesday.

It can be noted that the push towards clean energy has been driving global investor interest into the domestic renewables sector which has been visible in tenders getting oversubscribed amid strong participation by global investors despite the prices plunging to rock bottom of under Rs 1.4 a unit for solar.

According to Hetal Gandhi, a director at the agency, "Global investments have risen from around 15 per cent of total capital investment during fiscals 2015-18 to around 50 per cent of total investments in fiscals 2018-20. Going by this trend, global investments and internal accruals can generate around half of the Rs 1.5 lakh crore investments required."

Continued investor interest also builds on sustained enabling regulations, visible through removal of tariff caps, consistent regulatory policies, and rising renewable energy targets. PTI BEN MKJ


Disclaimer :- This story has not been edited by Outlook staff and is auto-generated from news agency feeds. Source: PTI

More from Website

Congress Names Priyanka Gandhi As Party’s Face For Upcoming Uttar Pradesh Polls

Congress Names Priyanka Gandhi As Party’s Face For Upcoming Uttar Pradesh Polls

The party's newly-appointed election campaign committee chief P L Punia announced the decision on Sunday, saying Priyanka Gandhi is the most popular political figure in UP at present.

Telos Launches EVM Mainnet To Combat Insider Trading In Crypto Markets

Telos Launches EVM Mainnet To Combat Insider Trading In Crypto Markets

The Telos EVM is a non-Ethereum fork, Ethereum virtual machine (EVM) that runs existing Solidity and Vyper contracts without modification, just like Ethereum.

Bank of India Slashes home, Vehicle Loan Rates

Bank of India Slashes home, Vehicle Loan Rates

With this cut, the interest rate on home loans starts at 6.50 per cent against earlier 6.85 per cent, and at 6.85 per cent against 7.35 per cent prior on vehicle loans.

More from Outlook Magazine

An Unfolding Dalit Movement In Tamil Nadu Has Escaped Nation’s Attention

An Unfolding Dalit Movement In Tamil Nadu Has Escaped Nation’s Attention

Poet and activist Meena Kandasamy visits ground zero of the grassroots movement down South to understand the caste divide in the state.

India Needs A Caste Census To Know Where The Marginalised Stand In The Development Index

India Needs A Caste Census To Know Where The Marginalised Stand In The Development Index

The aim of a caste census is not to know the numerical strength of a caste. Rather, it would reveal social inequalities for possible remedial measures.

Lakhimpur Kheri: Heartbreak And Tears As Families Try To Cope With Personal Grief

Lakhimpur Kheri: Heartbreak And Tears As Families Try To Cope With Personal Grief

Kin of killed farmers, BJP members have the same demand—justice for the dead.

Advertisement

Outlook Newsletters

Advertisement
Advertisement