India will fall short of its much-hyped 2022 target of reaching 175 GW of renewable energy generation capacity by as much as 42%, according to Mumbai ratings agency CRISIL’s REturn to Uncertainty report.
Blaming policy failures, trade tariffs, power purchase agreement uncertainty and waning developer interest, CRISIL predicted India’s installed renewables capacity could rise by just 40 GW to 104 GW by 2021-22, from 64.4 GW in the last fiscal year.
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