India will need to Invest $223 Bn to Meet its 2030 Climate Goals
The BloombergNEF report titled “Financing India’s 2030 Renewables Ambition” said corporate commitments from Indian power companies could help India achieve 86% of its 2030 goals of building 500GW of cumulative renewable energy generation capacity.
“To date the growth of renewable energy in India has been funded by a diverse set of financiers. Debt and equity structures have evolved as the market grew and new risks emerged.
India’s ambitious renewable energy targets now require further scaling up of financing with new instruments and learnings from other global markets,” said Shantanu Jaiswal, lead author and head of BloombergNEF’s India research said in the report published in association with the Power Foundation of India.
French Major Engie Eyes Partnerships to Drive Growth in India
Renewable energy major Engie is in talks with companies for partnerships to drive its next phase of growth in India across solar and wind power projects, besides green hydrogen, said Amit Jain, country manager, Engie India Ltd.
Engie tends to forge partnerships worldwide, and it would seek to pursue the same route for the Indian market, said Jain. “These kinds of partnerships we do globally. So, for India also, we are open for it, but not primarily to divest or capital raise; that’s not the intent. They could be partners for long-term strategy; they could be project-specific. For instance, Edelweiss is project-specific. It could be a different partner for C&I (commercial and industrial segment), could be a partner for utility, could be one combined partner. We are still in discussions on how we structure these partnerships,” he said.
