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India Sets Easier Path for Companies to Switch to Green Energy

  • New regulations will allow ‘green tariffs’ for power: minister
  • Country mulling subsidy for offshore wind power, minister said
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India is fashioning rules that will make it easier for companies to switch entirely to renewable power, a key step toward decarbonizing the nation’s fossil fuel-dominated economy.

The new regulations will allow companies to purchase renewable electricity from state distributors at weighted average prices, called “green tariffs,” Power Minister Raj Kumar Singh said at the virtual BloombergNEF summit on Tuesday. Currently, most distributors don’t give customers a choice for the source of their electricity.