Developers are ditching solar and wind projects meant to replace fossil fuels as financial struggles and shortsighted policies bring India’s renewable growth to a halt.
Prime Minister Narendra Modi promised to increase India’s renewable capacity to 175 gigawatts by 2022, a target that includes 100 gigawatts from solar and 60 from wind. But as of June, the country’s solar installations totaled 31.5 gigawatts.
Modi’s goal is slipping even further out of reach because industries are increasingly reluctant to invest. In 2019 alone, almost 5 gigawatts of tendered solar and wind capacity went unsubscribed.
“India is such a big market ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.