India’s renewable energy sector is expected to continue its growth after the government sought to issue sovereign green bonds under its 2022 budget, the Institute for Energy Economics and Financial Analysis (IEEFA).

The union budget 2022 provided that green bonds will be issued for projects in aid of the country’s carbon reduction target.

At present, the National Solar Mission has a target of 100 gigawatts of solar photovoltaic by the end of the year, which has been revised up from only 20GW by 2022 in January 2010. This growth was sustained by the support both from domestic and global capital, mainly from debt.

Guest post from Asian Power