India’s clean power sector to attract $169 bn by 2020
India could attract $ 169 bn in clean power project investments over the next decade.
New Delhi: India could attract USD169 billion in clean power project investments over the next decade, according to a report released Wednesday by the Pew Charitable Trusts.
According to the report, the annual clean energy investment in India is forecast to grow by as much as 763 percent over the next 10 years.
Enhanced clean energy policies would increase private investments in India by 48 percent, tied with the United Kingdom for the highest rate of increase in the G-20, the Pew report said.
Within the G-20, India is on track to climb from tenth to third place in terms of clean power project investments worldwide, the report said.
The report modelled three policy scenarios to determine future growth through 2020
”The message of this report is clear. Countries that want to maximize private investments, spur job creation, invigorate manufacturing and seize export opportunities should strengthen their clean energy policies,” said Phyllis Cuttino, director of the Pew Climate and Energy program.
The report said total renewable energy capacity additions in the G-20 could reach 1,180 gigawatts, almost four times the amount of renewable energy capacity that exists today.