Renewable energy challenge to fossil fuel in power sector: Moody's

Growth in the renewable energy capacity in India's power sector will challenge fossil fuel operators in the future, leading global ratings agency Moody's said on Wednesday.

"The rising share of renewables in India's generation mix -- as the country grows substantially its proportion of renewable energy over the next 5-7 years -- creates challenges for conventional power generators," Moody's said in its Asia Pacific Weekly for March 30 to April 6.

According to the ratings agency, in the forecast period of the next 5-7 years, India will be a power surplus country pressurising the utilisation rates of thermal power generators.