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With the government focusing on electric vehicles, green hydrogen, solar equipment manufacturing, and achieving its target of 175GW of renewable energy, India's renewable energy sector is expected to boom in 2022, receiving more than $15 billion in investment
.
India's installed renewable energy generation capacity is just over 150 GW, and it aims to reach 175 GW
by 2022.
Of this, 100 GW will come from solar, 60 GW from wind, 10 GW from bioenergy and 5 GW from small hydropower projects
.
"By 2022, we expect to invest at least more than $15 billion in renewable energy," said R K Singh, Minister of Power and New and Renewable Energy
.
According to a report by Bloomberg New Energy Finance (BNEF), new investment in the country's clean energy sector was $6.
2 billion in 2020, $9.
3 billion in 2019 and $10.
8 billion in 2018.
The second wave of COVID-19, which began in April of this year, affected the implementation of various renewable energy projects, as states imposed restrictions to curb the spread
of infection.
According to REN21 Renewable Energy Global Status Report 2020, India's renewable energy programs and projects attracted $64.
4 billion in investment
during the period 2014-2019.
However, in 2021, new opportunities emerged
.
Indian companies have begun to explore overseas markets to raise capital, and in August, ReNew Power became the first Indian renewable energy company
to list on the NASDAQ.
India's "unconventional energy" sector received about $7.
27 billion in FDI
from 2014-15 to June 2021, according to the Ministry of Industry and Industry Trade Promotion.
As the country moves towards 175 GW of installed renewable capacity by 2022, the minister said: "We will meet the 175 GW renewable installed capacity target we have set (excluding large hydro).
"Last November, the country achieved 150 GW of installed renewable energy capacity, including large-scale hydropower projects
.
He noted that 63 GW of renewable energy capacity is being installed and is expected to be completed
next year.
At COP 21, as part of its Determined Nationally Determined Contribution (NDC), India pledged to have 40% of its installed capacity come from non-fossil energy
sources by 2030.
India achieved this goal in November 2021
.
As of November 30, the country's installed renewable energy capacity was 150.
54 GW, including solar (48.
55 GW), wind (40.
03 GW), small hydro (4.
83 GW), biopower (10.
62 GW) and large hydro (46.
51 GW).
The installed capacity based on nuclear energy is 6.
78 GW
.
The total installed capacity of non-fossil energy was 157.
32 GW, accounting for 40.
1%
of the total installed capacity of 392.
01 GW.
India aims to reach 500 GW of renewable energy (RE) installed capacity by 2030
.
With the government focusing on electric vehicles, green hydrogen, solar equipment manufacturing, and achieving its target of 175GW of renewable energy, India's renewable energy sector is expected to boom in 2022, receiving more than $15 billion in investment
.
India's installed renewable energy generation capacity is just over 150 GW, and it aims to reach 175 GW
by 2022.
Of this, 100 GW will come from solar, 60 GW from wind, 10 GW from bioenergy and 5 GW from small hydropower projects
.
"By 2022, we expect to invest at least more than $15 billion in renewable energy," said R K Singh, Minister of Power and New and Renewable Energy
.
According to a report by Bloomberg New Energy Finance (BNEF), new investment in the country's clean energy sector was $6.
2 billion in 2020, $9.
3 billion in 2019 and $10.
8 billion in 2018.
The second wave of COVID-19, which began in April of this year, affected the implementation of various renewable energy projects, as states imposed restrictions to curb the spread
of infection.
According to REN21 Renewable Energy Global Status Report 2020, India's renewable energy programs and projects attracted $64.
4 billion in investment
during the period 2014-2019.
However, in 2021, new opportunities emerged
.
Indian companies have begun to explore overseas markets to raise capital, and in August, ReNew Power became the first Indian renewable energy company
to list on the NASDAQ.
India's "unconventional energy" sector received about $7.
27 billion in FDI
from 2014-15 to June 2021, according to the Ministry of Industry and Industry Trade Promotion.
As the country moves towards 175 GW of installed renewable capacity by 2022, the minister said: "We will meet the 175 GW renewable installed capacity target we have set (excluding large hydro).
"Last November, the country achieved 150 GW of installed renewable energy capacity, including large-scale hydropower projects
.
He noted that 63 GW of renewable energy capacity is being installed and is expected to be completed
next year.
At COP 21, as part of its Determined Nationally Determined Contribution (NDC), India pledged to have 40% of its installed capacity come from non-fossil energy
sources by 2030.
India achieved this goal in November 2021
.
As of November 30, the country's installed renewable energy capacity was 150.
54 GW, including solar (48.
55 GW), wind (40.
03 GW), small hydro (4.
83 GW), biopower (10.
62 GW) and large hydro (46.
51 GW).
The installed capacity based on nuclear energy is 6.
78 GW
.
The total installed capacity of non-fossil energy was 157.
32 GW, accounting for 40.
1%
of the total installed capacity of 392.
01 GW.
India aims to reach 500 GW of renewable energy (RE) installed capacity by 2030
.
