India Gets $386 Billion Financing Pledge for Green Energy Push
- Minister Joshi announced commitment at Gujarat industry event
- The amount would help India meet 500GW of clean power by 2030
Solar panels and wind turbines in Tuticorin, India.
Photographer: Prashanth Vishwanathan/BloombergThis article is for subscribers only.
India’s renewable energy ministry received combined investment commitments of $386 billion from banks and financial institutions, as it seeks to shore up funding to decarbonize the economy.
The investments would help India reach its goal of more than doubling clean electricity capacity by 2030, Renewables Minister Pralhad Joshi said at the RE-Invest conference in Gandhinagar, the capital of Gujarat. The ministry had asked project developers and investors to submit their commitments prior to the event.