Why India?

As per the International Energy Agency's (IEA) Renewables Report, Solar and Wind represent 90% of the country's capacity growth, which is the result of auctions for contracts to develop power-generation capacity that have yielded some of the world's lowest prices for both technologies. The country, which presently has low conventional energy resources in comparison to the energy needs of the huge population and the swiftly growing economy, can foster the enormous potential of solar energy. Under the leadership of Prime Minister Narendra Modi India is committed towards the development of renewable energy infrastructure. The 175 GW target for 2022 and the formation of ISA led by India and France is another example of the same. Apart from solar, the country is also exploring hydro power potential in the north-eastern states which are an abode to the hydro power opportunities.

With the right investments in such green technologies, India is well positioned to achieve all this. This is significant given India's burgeoning electricity demand and the persistent supply demand gap along with the summer shortages and outages, the pursuit towards cleaner energy sources will have a crucial role in enabling the country's transition to a fully sustainable energy system. Ensuring those projects secure the necessary financing to enable that development, however, remains a challenge, with a large proportion of Southeast Asian projects considered unbankable. The bankability of renewable energy projects has always been an issue owing to off takers' inability to absorb power and pay for it.