High noon for clean power

Companies are buying green energy like never before, with India setting new records

Indian companies are procuring cheap green power at a record pace. They signed 2.6 gigawatts of clean power purchase deals in the first half of 2023, surpassing all historical half-yearly volumes, according to BloombergNEF. This puts the country on track for another bumper year.

“Almost every company has realised that buying clean energy is cheaper,” Sumant Sinha, the founder, chairman and chief executive officer of Renew Energy Global, told BNEF in an interview in New York last month. His company is one of the largest suppliers of low-carbon power.

Tech companies like Microsoft and Amazon are large buyers, as are