India's Power Sector Requires $700 Billion Investment for Net-Zero Goal

India needs massive investments to meet its 2070 net-zero target, with Moody's estimating the power sector will require $53-76 billion annually until FY2034-35. Beyond that, yearly investments of $71-107 billion are needed through FY2051. The country aims to add 450 GW of renewable capacity over the next decade, but this won't suffice to meet rising demand. Coal-based power is expected to expand by 35% to 295 GW by 2034-35. Solar and wind will dominate new capacity additions, while the share of non-fossil fuel electricity is projected to reach 45-50% by FY2034-35. Access to long-term, low-cost capital and foreign investment will be crucial for India's energy transition.

 

Source: The Economic Times