Budget must tackle renewable capacity and green tech
1 month, 3 weeks ago

Budget must tackle renewable capacity and green tech

Live Mint  

The Union budget comes at a crucial juncture as India needs to accelerate its pace in renewable energy capacity addition and adoption of new-age green technologies in a bid to achieve its ambitious energy transition goals. The withdrawal of the US, under Donald Trump's presidency, from the Paris Climate Agreement and key climate commitments also poses a challenge to global energy transition goals. On the domestic front, the energy space still has a long way to go in terms of adding renewable capacity and resolving key issues, including a lag in signing power purchase agreements and power sale agreements, which has slowed the progress in development of new projects. As it has tried to boost domestic manufacturing of solar modules and cells through production linked incentive schemes and high customs duties, more steps may be in the offing to boost local industry in the green energy space.

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