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India encounters great solar energy challenges

  • 2017/8/11 19:43:02
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"Efforts in India, one of the world's most powerful economies, raise the potential for the renewable energy sector to face headwinds," said the Moody's Investors Service.

India's goal is to get three times the renewable energy generating capacity by 2022 to 175,000 trillion watts, through solar and wind energy resources. The country ranks fourth in global solar power, also ranks fourth on its accumulated wind power capacity. The government of New Delhi has pledged to its commitment on the global Paris climate agreement.

Moodys said in a quarterly report that the growth of the renewable energy market in India will continue as the economy develops.

"However, Moodys find the challenges of renewable energy projects, particularly the weak credit quality and changing regulatory framework, financing and implementation risks, and aggressive bidding," said the rating agency.

The International Monetary Fund said India may attract capital for its bad load books, and the overall health status of the nation's banking system. The Asian Development Bank said that in February, India will expire $47 million in bonds in February 2021, which will help push India's climate change program.

As domination, about half of India's energy comes from oil and gas is put for the power industry. India's Petroleum Minister, Dharmendra Pradhan, said in the mid of July, that expanding domestic oil and gas development, including shale reserves and coal-bed methane, could help the country to achieve its goal of cutting imports.

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