India is ranked sixth among the top 30 PPA markets

New Delhi: India retains its third position in Ernst & Young’s (EY) Renewable Energy Country Attractiveness Index which ranks the world’s top 40 nations on the attractiveness of their renewable energy investment and deployment opportunities.

The US retains the top position with China and India taking up the second and third positions, respectively. The report added that the conditions are ripe for rapid growth in renewables generation, while inadequate grid investments may be a major challenge.

With environment, social, and governance measures soaring to the top of the agenda for companies and investors, the index also added that corporate power purchase agreements were emerging as a key driver of clean energy growth.

India is ranked sixth among the top 30 power purchase agreement (PPA) markets. The PPA Index focuses on the attractiveness of renewable power procurement and ranks the growth potential of a nation’s corporate PPA market.

“India’s thriving renewable energy market conditions, inclusive policy decisions, investment and technology improvements focusing on self-reliant supply chains has pushed clean energy transition to new heights. However, the sector must be careful to navigate bottlenecks that could threaten continued rapid growth,” said EY.

The report added that the drive to integrate increasing volumes of variable resources is set to put grid infrastructure under significant strain, and the investment required to upgrade and expand energy transmission infrastructure across the globe will be a key challenge.

The top performing markets have held their ground in this latest issue – with no movement into or out of the top eight. France and the UK have switched while Germany has edged back ahead of Australia after its onshore wind market had a fruitful first half of 2021, with 971 MW added, marking a 62 per cent rise from the first half of 2020.

https://energy.economictimes.indiatimes.com/news/renewable/india-remains-third-in-eys-renewable-energy-country-attractiveness-index/86987043