According to EY's 58th edition of ‘Renewable Energy Country Attractiveness Index’ (RECAI), India has retained the 3rd position. The Index ranks the top 40 country markets on their dealing with the renewable energy investment and deployment opportunities.
A new PPA Index introduced in this edition of RECAI focuses on the attractiveness of renewable power procurement and ranks the growth potential of a nation’s corporate PPA market. India is ranked 6th among the top 30 PPA markets.
Somesh Kumar, partner and national leader, Power & Utilities, EY India, said, “In August 2021, India witnessed a watershed moment in combating the climate crisis. The total installed renewable energy capacity (excluding large hydro) crossed the milestone of 100 GW. This edition of RECAI also examines how the sector could manage grid integration challenges from the rising share of renewable energy by upgrading and expanding transmission infrastructure."
While the US, mainland China, and India continue to retain the top three rankings, Indonesia has made its entrance in RECAI. The top performing markets have held their ground in this latest issue -- with no movement into or out of the top eight. France (fourth position, up by one) and the UK (fifth position, down by one) have switched, while Germany (sixth position, up by one) has edged back ahead of Australia (seventh position, down by one) after its onshore wind market had a fruitful first half of 2021, with 971MW added, marking a 62 per cent rise from the first half of 2020.
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