, India

India needs up to $250b investment to reach 2030 RE goals: Moody’s

The county targets a 500GW renewable energy capacity by 2030.

India would need $225b to $250b in investment from both public and private sectors over the next eight years to reach its renewables capacity target of 500 gigawatts (GW) by 2030, according to a report by Moody’s Investors Service.

Aside from investments, this would also need continuous policy support from the government, Moody’s said, noting that the country’s significant expansion of renewable energy footprint in the last four to five years was due to the supportive government policies that encouraged the domestic private sector and overseas investors to participate in the sector.

"The country aims to triple its renewable energy capacity to 500GW by 2030 from 157GW as of March 2022, and to have 50% of the electricity generation from non-fossil fuel sources,” said Abhishek Tyagi, a Moody's Vice President and Senior Credit Officer.

“The key enabler will be the competitiveness of wind and solar generation over coal-fired power generation because of technological developments, supportive government policies, private sector participation," he added.

Moody’s said the private sector has led the investments in renewable energy, contributing over 90% of the installed renewable capacity, excluding hydropower, whilst sovereign wealth funds have been active despite typically having a low cost of funding.

State-owned distribution companies’ weak financial health will remain a challenge for India’s renewable energy sector, it said. It added that the common delays in payments to these companies lead to a build-up of receivables from off-takers and an increase in working capital debt for renewable energy firms.

The weak financials of these state-owned distribution firms led to delays in the signing of power purchase agreements, which occasionally result in project delays or cancellations, Moody’s said.

India plans to reach net-zero emissions by 2070.

Read also: Indian RE sector posts record $14.5b investment in FY2021/22

Follow the link for more news on

Join Asian Power community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!


SMRs may deliver their climate promise too little, too late 
As these nuclear reactors are still in development, their wide deployment is unlikely, analysts say. 
How grid enhancements can ignite Malaysia's solar energy boom
Experts warn that grid enhancements will be crucial for the solar energy mix, which accounted for 18% of the country's RE.
ASEAN’s energy security is at risk as it prepares for gas and coal imports
The region’s reliance on fossil fuel imports threatens its energy security due to price volatility and lack of affordability.

Event News

Event News

Indonesia unleashing potential in new and renewable energy
Nine speakers at Jakarta 2023 Asian Power Forum flex government-private sector team-up to power up Indonesia’s energy landscape into the future. Indonesia’s power sector is poised for growth, thanks to new renewable energy initiatives, modernized transmission infrastructure, and the country’s unique archipelagic and resource-rich environment. These conditions were the center of discussions among industry leaders and stakeholders at Jakarta 2023 Asian Power Forum held at the Pullman Hotel last May 4.