Speed of India's shift to green energy at par with China, Europe: Report

Transformation is aided by sustained deflation in renewable tariffs, tech upgrades, cheaper finance, expeditious tendering and political will

India is emerging as a transition force in power generation on par with China and Western Europe.

A report by US-based Institute for Energy Economics & Financial Analysis (IEEFA) says the country’s electricity generation market is changing rapidly. The transformation is helped by a sustained deflation in renewable energy tariffs, technology upgrades in wind and solar sectors, availability of cheaper financing, acceleration in wind and solar tender activity and a national political desire to abide by the Paris climate accord.

The shift in India’s energy generation priorities is amply reflected in the plummeting tariffs in both, solar and wind power sectors. In