Financing India’s clean energy transition

India’s energy system faces the triple challenge of meeting growing demand, cutting pollution and offering more than 300m people not connected to the power grid access to modern energy. The government has set the target of building 175GW of renewable energy by 2022, primarily solar and wind, and mandated the rapid electrification of more than 18,000 villages. If realised, this presents an investment opportunity of more than $150bn in clean power generation. This White Paper examines the recent growth across the country’s off-grid, small energy grids, rooftop solar and utility-scale renewable energy segments and looks at challenges in their future growth including financing trends.