Yet another report has stated that India is on-track to meet the commitment it made as part of the Paris Agreement. This time the report comes from the global credit rating agency Moody’s. Moody’s stated in a report titled ‘ Power Asia – Climate goals, declining costs of renewables signal decreasing reliance on coal power ’ that India would likely see the share of non-fossil fuel power generation capacity to 45% by 2022 against a commitment of 40% by the same year. This is not the first time that India has been projected to overachieve on its Paris Agreement pledges. The agency further stated the share of coal-based power generation in India would fall to 57% by 2030. The share of coal would decline in the country’s power mix due to the government’s focus on large-scale renewable energy projects. India has set a target to have 175 gigawatts of renewable energy capacity operational by March 2022. This target is further extended to 500 gigawatts by 2030. By that year the share of renewable energy capacity would likely reach 59% from the current 22%. At the end of 2018, the share of renewable energy technologies in India’s installed capacity base […]


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.