India's aim of doubling renewable power by 2022 gets foreign backers' boost

For investments to rise more, though, the country may need to fix its ailing power distribution sector

India’s goal of doubling renewable power by next year is getting a boost from international investors who see the massive market’s potential outweighing significant risks.
 

French oil major Total SA’s $2.5 billion investment in Adani Green Energy Ltd. last week is a sign that global companies increasingly under pressure to invest in environmental assets are eyeing India’s 1.3 billion energy users, despite a mounting debt at generation companies and attempts by some provinces to renege on power purchase contracts.

Foreign investments are key to meeting Prime Minister Narendra Modi’s target to nearly double renewable energy capacity by 2022 and raise it