âš¡âš¡ For the first time ever, India has added more production capacity from renewable energy in a year than from conventional sources like coal. âš¡âš¡
📌 Between April 2017 and March 2018, the country added around 11,788 megawatts (MW) of renewable energy capacity. That’s more than double of the 5,400 MW of capacity addition in the thermal and hydro power sectors during the same period.
The numbers are in sync with the Narendra Modi government’s plan to promote renewable power, targeting capacity additions of 175,000 MW from renewable sources by 2022.
Data: Ministry of New and Renewable Energy, Government of India
âš¡âš¡ There are some other interesting facts based on the report publised in Bloomberg New Energy Finance Clean Energy Investment Trends, 2Q 2018
👉Quarterly Trends, Funds in Circulation Global
👉 Quarterly Trends, New Investment India vs China
China may be the world’s renewable energy leader, but where the sector’s growth is concerned, India is leaving its neighbour behind.
Investments into clean energy in India rose 22% in the first half of 2018 compared to the same period last year, while investments by China fell 15% during the period, according to a report by Bloomberg New Energy Finance (NEF). At this rate, India is expected to overtake China and become the largest growth market by the late 2020s.
👉 Annual Trends, New Investment - Global
👉 Annual Trends, New Investment - By Countries
In May this year, India became home to the International Solar Alliance, a Gurugram-based non-profit treaty-based group of 121 countries promoting the use of solar energy. The country is also building multiple large solar power parks similar to, but bigger than, those in China. In fact, half of the world’s 10 largest solar parks under construction are in India.
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