RE Investment Attractiveness Index India Retains 3rd Position

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India has retained the third rank within the Renewable Energy Country Attractiveness Index launched by consultancy agency EY.

India remained on the third place within the 58th version of EY’s ‘Renewable Energy Country Attractiveness Index’ (RECAI), which ranks the world’s prime 40 markets (nations) on the attractiveness of their renewable vitality funding and deployment alternatives, an EY assertion mentioned.

With the setting, social and governance (ESG) measures hovering to the highest of the agenda for firms and traders, RECAI additionally highlights that company energy buy agreements (PPAs) are rising as a key driver of fresh vitality development, it added.

A brand new PPA Index – launched on this version of RECAI – focuses on the attractiveness of renewable energy procurement and ranks the expansion potential of a nation’s company PPA market. India is ranked sixth among the many prime 30 PPA markets.

India’s thriving renewable vitality market circumstances, inclusive coverage selections, funding and expertise enhancements specializing in self-reliant provide chains have pushed the clear vitality transition to new heights, the assertion mentioned.

However, it mentioned that the sector should be cautious to navigate bottlenecks that might threaten continued fast development.

The EY report reveals that the drive to combine rising volumes of variable sources is about to place grid infrastructure underneath important pressure, and the funding required to improve and develop vitality transmission infrastructure throughout the globe can be a key problem.

Somesh Kumar, Partner and National Leader, Power & Utilities, EY India, mentioned, “In August 2021, India witnessed a watershed second in combatting the local weather disaster. The complete put in renewable vitality capability (excluding giant hydro) crossed the milestone of 100 GW”.

According to the report, the US, mainland China and India proceed to retain the highest three rankings and Indonesia is a brand new entrant to the RECAI.

The US continues its prime rating on RECAI and is anticipated to carry its place as new initiatives are being introduced underneath President Joe Biden. Mainland China and India stay unchanged within the rating at second and third place, respectively, as beneficial regulatory and funding circumstances proceed in these markets, it mentioned.

The top-performing markets have held their floor on this newest challenge – with no motion into or out of the highest eight. France (fourth place, up by one) and the UK (fifth place, down by one), whereas Germany (sixth place, up by one) has edged again forward of Australia (seventh place, down by one) after its onshore wind market had a fruitful first half of 2021, with 971MW added, marking a 62 per cent rise from the primary half of 2020, it said.

Also, underneath the highlight are coverage assist and notable authorities public sale rounds for Greece, Spain, Taiwan and the UK. The Philippines (twenty seventh place, up by 4) has moved up the rating with an indicated goal of reaching 35 per cent renewable vitality by 2030, whereas additionally setting out its offshore wind highway map, it added.

(PTI)


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