Multi-pronged policy support gives green signal to renewable energy: CRISIL

Currently, non-fossil or clean sources make up around 25 per cent of energy and 40 per cent of the installed power base in the country

The renewable energy (RE) sector has received tailwind from India’s renewed international commitments under its Nationally Determined Contribution (NDC) targets this year, which reflect the country’s determination to go clean and green, and source as much as 50 per cent of its power from non-fossil fuels by 2030.

Currently, non-fossil or clean sources (hydropower, nuclear, solar, wind, and other renewables) make up around 25 per cent of energy and 40 per cent of the installed power base in the country, having grown rapidly from 19 per cent and 33 per cent, respectively, in FY17, supported by an addition of 51