India's renewable energy plan of 175 GW by FY22-end faces multiple risks

Sector comes of age with large companies driving growth, but land acquisition and regulatory delays hamper the immediate target of achieving 175 Gw capacity by FY22 end

India’s renewable energy journey has taken a sharp turn in the last one year with the country’s largest companies entering the sector and overshadowing the plans of pure-play green power generators and gear makers. The country will now chase its target of 450 Gw of renewable power by 2030 with a host of firms of all sizes in the market.

However, several issues, including delays in the signing of power sales agreement (PSAs) for tenders that have already been finalised, stand in the way of realising the immediate target of 175 Gw by financial year 2021-22 (FY22) end. “Three major issues