Google-Funding Requirements: Moody’s estimates India needs $385 billion to meet its renewable energy target of 500 GW by 2030, with $190 billion to $215 billion required for renewables capacity addition and $150 billion to $170 billion for transmission and distribution.
-Annual Capacity Addition: To reach its goal, India aims to add 50 GW of non-fossil fuel capacity annually, though Moody’s suggests that an annual addition of 44 GW would suffice.
-Financial Leverage: The high volume of announced projects will likely keep the financial leverage of rated renewable power companies high in the next two to three years, posing a credit negative, but leverage of government-related issuers should remain moderate.
-Policy Support and Investment: Strong government policy support has boosted renewable energy’s share to 43% in fiscal 2023-24, attracting private investments. Continued policy backing is crucial for achieving the 2030 transition and 2070 net-zero targets.
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