Latest News | BIZ-MOODY'S-RENEWABLE Investment of USD 190-215 Bn Needed for India's 500 GW RE Capacity: Moody's

New Delhi, Jun 12 (PTI) Investments of USD 190-215 billion will be needed to achieve the target of 500 gigawatt (GW) of renewable energy capacity by 2030 in India, Moody's Ratings said on Wednesday.

India's infrastructure companies will be spending on energy transition to meet demand resulting from the country's relatively strong economic growth.

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However, government policies and stable regulatory frameworks will support credit quality, Moody's said in a statement.

Moody's also estimates that another USD 150-170 billion of investment will be required for electricity transmission and distribution as well as energy storage.

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"We expect the strong growth in India's renewable energy capacity to continue, although coal will remain a major source of electricity generation over the next 8-10 years," Abhishek Tyagi, Moody's Vice President and Senior Credit Officer said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)