Suggested Citation: Chawla, Kanika, Michael Waldron, Arjun Dutt, Manu Aggarwal, Alberto Toril, and Yoko Nobuoka. 2018. Clean Energy Trends: Evolving Investment Landscape for Grid-Connected Renewable Energy Projects in India. New Delhi: Council on Energy, Environment and Water.
This study, the first in a series of trends reports being undertaken by CEEW in collaboration with the International Energy Agency (IEA), analyses project-level data for solar and wind energy over the 2014-2017 period, which is closely aligned with the recalibration of India’s RE ambitions and the revised target announcement of 175 GW of renewable energy by 2022. The analysis focused on the changing market landscape in the form of market concentration in investment decisions for solar and wind generating capacity, trends relating to the management of land acquisition and evacuation infrastructure risks and the role of solar parks, changes in average sanctioned solar and wind project sizes over time, and the evolution of offtakers for solar and wind projects from 2014 to 2017.
In order to monitor and analyse the concerted action towards fulfilling India’s RE ambitions, this joint project with IEA will assess clean energy investment trends, with a focus on renewables and the power sector. This project seeks to provide stakeholders a practical guide for understanding the current clean energy investment environment in India and how the evolution of regulations and risks are impacting where finance is flowing (and where it is not).
The analysis revealed four key trends:
In 2017, investment in renewable power, at nearly USD 20 billion, topped that for fossil fuel-based generating capacity for the first time.