India retains 3rd position in RE investment attractiveness index

India has retained the third rank in the Renewable Energy Country Attractiveness Index released by consultancy firm EY.

India remained at the third position in the 58th edition of EY’s Renewable Energy Country Attractiveness Index’ (RECAI), which ranks the world’s top 40 markets (nations) on the attractiveness of their renewable energy investment and deployment opportunities, an EY statement said.

Key Highlights

• With the environment, social and governance (ESG) measures soaring to the top of the agenda for companies and investors, RECAI also highlights that corporate power purchase agreements (PPAs) are emerging as a key driver of clean energy growth, it added.

• A new PPA Index – introduced in this edition of RECAI – focuses on the attractiveness of renewable power procurement and ranks the growth potential of a nation’s corporate PPA market. India is ranked sixth among the top 30 PPA markets.

• India’s thriving renewable energy market conditions, inclusive policy decisions, investment and technology improvements focusing on self-reliant supply chains have pushed the clean energy transition to new heights, the statement said.

• The EY report reveals that the drive to integrate increasing volumes of variable resources is set to put grid infrastructure under significant strain, and the investment required to upgrade and expand energy transmission infrastructure across the globe will be a key challenge.

SOURCE: Business Standard

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