Renewable energy investment surges in India

Investment in renewable energy in India reached a record US$14.5 billion in the last financial year (FY2021-22), an increase of 125% compared to FY2020-21 and 72% over pre-pandemic FY2019-20, finds a new report by the Institute for Energy Economics and Financial Analysis (IEEFA). The surge in renewables investment comes on the back of the revival of electricity demand from the COVID-19 lull and commitments by corporations and financial institutions to net-zero emissions and to exit fossil fuels.