The Challenges of reaching India’s 170 GW renewable energy target
ICRA predicts a surge in India’s renewable energy capacity, targeting 170 GW by March 2025. However, land acquisition delays and transmission connectivity pose hurdles. Domestic manufacturing is needed to counter fluctuations in imported solar modules, wafers and components. While RE-RTC projects help tackle intermittency, timely payments from state utilities remain contingent on successful reforms.