India would need $225b to $250b in investment from both public and private sectors over the next eight years to reach its renewables capacity target of 500 gigawatts (GW) by 2030, according to a report by Moody’s Investors Service.

Aside from investments, this would also need continuous policy support from the government, Moody’s said, noting that the country’s significant expansion of renewable energy footprint in the last four to five years was due to the supportive government policies that encouraged the domestic private sector and overseas investors to participate in the sector.

"The country aims to triple its renewable energy capacity to 500GW by 2030 from 157GW as of March 2022, and to have 50% of the electricity generation from non-fossil fuel sources,” said Abhishek Tyagi, a Moody's Vice President and Senior Credit Officer.

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