India ranks second in EY renewables list

However, low tariffs raise questions over the risks being taken by project developers

India has been placed in the second spot in the renewable energy country attractiveness index by EY. 

The UK accountancy firm noted the fast pace of growth in Indian renewable energy in the past three years. Over 10 gigawatt (Gw) of solar power was added between 2015 and 2017 and wind energy capacity grew to 5.4 Gw in 2017-18.

“This growth is in the context of the government’s ambitious targets — 175 Gw of renewables by 2022, with 40 per cent installed capacity from renewables by 2030 — and the dramatic price falls in photovoltaic technology. In recent tenders, solar developers have