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

This report by Ember analyzes the investment and capacity requirements for India to align its renewable energy targets with the International Energy Agency's (IEA) Net-Zero Emissions (NZE) pathway by 2030, comparing these needs against the targets set in India's 14th National Electricity Plan (NEP14).

• To align with the IEA NZE pathway, India would need an additional $101 billion in financing beyond what is required for the NEP14 targets. This additional funding is broken down into $68 billion for solar, $8 billion for wind, $14 billion for storage, and $11 billion for transmission capacity.
• The total investment required for India to meet the NEP14 solar and wind capacity targets, including storage and transmission, is estimated at $293 billion between 2023 and 2030. Moving to the IEA NZE pathway would increase the total investment requirement to approximately $394 billion.
• To meet the IEA NZE pathway, India's electricity generation would need to be 32% from solar and 10% from wind by 2030. This represents a 35% increase in solar generation and an 8% increase in wind generation compared to the NEP14 projections for FY 2030-31.
• Achieving the IEA NZE targets would require India to reach a combined solar and wind capacity of 571 GW by 2030. This necessitates adding 115 GW of solar and 9 GW of wind capacity beyond the NEP14 targets of 332 GW (solar) and 113 GW (wind).
• To align with the IEA NZE pathway, India's annual capacity additions must increase significantly by 2027, reaching 64 GW for solar and 13.6 GW for wind. This represents nearly a five-fold increase compared to the 12.8 GW of solar and 2.28 GW of wind added in 2022.
• Meeting the IEA NZE pathway requires additional infrastructure beyond the NEP14 plans, specifically an additional 48 GW of Interstate Transmission System (ISTS) and at least 14 GW (6-hour) of battery storage.
• Renewable energy investments in India are hindered by regulatory, project, and financing risks, including payment delays, land acquisition complexities, 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} }