Beyond Tripling: India needs $101bn additional financing for the net-zero pathway

India would need an additional $101 billion in financing to align with the IEA Net-Zero Emissions (NZE) pathway by 2030, bringing total investment needs to $394 billion. To meet this goal, solar generation must reach 819 TWh and wind 259 TWh, requiring total combined capacity of 571 GW. This necessitates a five-fold increase in annual solar and wind additions by 2027. The report highlights that securing competitive financing is critical to avoid coal capacity lock-in and manage systemic investment risks such as payment delays and PPA renegotiations.

• To align with the IEA Net-Zero Emissions (NZE) pathway, India requires an additional $101 billion in financing beyond the $293 billion needed for the 14th National Electricity Plan (NEP14). This additional sum consists of $68 billion for solar, $8 billion for wind, $14 billion for storage, and $11 billion for transmission.
• The IEA NZE pathway requires India to achieve a generation share of 32% from solar and 10% from wind by 2030. This would mean solar generation reaching approximately 819 TWh and wind generation reaching 259 TWh, representing a 35% and 8% increase respectively over NEP14 projections.
• Achieving the IEA NZE targets would require a total combined solar and wind capacity of 571 GW by 2030. This involves adding 115 GW of solar and 9 GW of wind capacity beyond the NEP14 targets, as well as an additional 14 GW/84GWh of storage and 47 GW of transmission capacity.
• Annual installation rates for solar and wind must increase nearly five-fold by 2027 to meet the IEA NZE pathway. Specifically, annual additions would need to reach 64 GW for solar and 13.6 GW for wind by 2027, compared to 12.8 GW and 2.28 GW respectively in 2022.
• Renewable energy investments in India are hindered by regulatory, project, and financing risks, including land acquisition complexities, payment delays, and the renegotiation of Power Purchase Agreements (PPAs).

APA

Rodrigues, N., & Lolla, A. (2023). Beyond Tripling: India needs $101bn additional financing for the net-zero pathway. Ember. https://ember-energy.org/app/uploads/2024/10/Beyond-Tripling_India-needs-financing-to-reach-net-zero-2-1.pdf

Chicago

Rodrigues, Neshwin, and Aditya Lolla. Beyond Tripling: India needs $101bn additional financing for the net-zero pathway. Ember, 2023. https://ember-energy.org/app/uploads/2024/10/Beyond-Tripling_India-needs-financing-to-reach-net-zero-2-1.pdf.

Wikipedia

{{cite report |last1=Rodrigues |first1=Neshwin |last2=Lolla |first2=Aditya |title=Beyond Tripling: India needs $101bn additional financing for the net-zero pathway |publisher=Ember |date=29 November 2023 |url=https://ember-energy.org/app/uploads/2024/10/Beyond-Tripling_India-needs-financing-to-reach-net-zero-2-1.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{rodrigues2023beyond, author = {Rodrigues, Neshwin and Lolla, Aditya}, title = {{Beyond Tripling: India needs \$101bn additional financing for the net-zero pathway}}, institution = {Ember}, year = {2023}, month = nov, url = {https://ember-energy.org/app/uploads/2024/10/Beyond-Tripling_India-needs-financing-to-reach-net-zero-2-1.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }