Environmental News from India:
India has reached another milestone towards a safer environment by increasing its clean energy capacity by over 2.75 (excluding nuclear and hydro energy capacity) times from the year 2014-to 15, according to an EPFO tweet.
India was ranked fourth in wind power, fifth in solar power, and fourth in renewable power installed capacity, as of 2020, as per a report by India Brand Equity Foundation (IBEF).
However, the renewable energy capacity of India increased by 250% between 2014 and 2021 if hydro and nuclear energy capacity were included.
The Indian renewable energy sector is the 4th largest capacity holder for the renewable energy market in the world.
The Department for Promotion of Industry and Internal Trade (DPIIT) released data showing that FDI inflows to the Indian non-conventional energy sector stood at US$11.21 billion between April 2000 and December 2021. In India’s renewable energy sector, more than Rs. 5.2 lakh crore (US$ 70 billion) has been invested since 2014. India ranked third globally in terms of its renewable energy investments and plans in 2020, according to analytics firm British Business Energy.
India’s installed renewable energy capacity stood at 152.36 GW in 2022, representing 38.56% of the overall installed power capacity. As per the report, “975.60 MW of renewable energy capacity was added in January 2022.”
“The renewable energy capacity addition stood at 8.2 GW for the first eight months of FY22 against 3.4 GW for the first eight months of FY21,” the report added.
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Source: Money Control