Context: Moody's Ratings forecasts that India needs a $385 billion investment to achieve its 500 GW renewable energy target by 2030, while acknowledging coal's continued significance in electricity generation over the next decade.
Renewable Energy
o India's Energy Consumption Ranking: India ranks as the 3rd largest energy-consuming country globally.
o Renewable Energy Installed Capacity: India stands 4th globally in Renewable Energy Installed Capacity, including Large Hydro.
o Wind Power Capacity: India holds the 4th position in Wind Power capacity worldwide.
o Solar Power Capacity: India ranks 5th globally in Solar Power capacity.
o COP26 Target: At COP26, India set an ambitious target of achieving 500 GW of non-fossil fuel-based energy by 2030.
Government Initiatives
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