India 2020: Utilities & Renewables - Make Way for the Sun

The Government of India is generating a lot of excitement over solar power. At the recent RE-Invest Global Summit, companies committed to 166GW solar power, and 216GW for Renewable Energy (RE) projects.

Deutsche Bank states in this report that India could become one of the largest renewable energy producers in the world, with an increase in its target from 20GW to an ambitious 100GW by 2022 − similar to China’s target of 100GW by 2020.

State administrations are providing the necessary framework and infrastructure to achieve this goal, attracting interest from not just domestic corporate houses but also global players – ranging from utilities to RE majors and PEs.

Solar fundamentals are becoming compelling in India, and investments are bound to grow dramatically, according to the report, which, however, points out that there are numerous challenges which still need to be addressed.