A leading solar sector expert analyses the factors behind India’s renewables revolution for ‘India Investment Journal’.

From a miniscule 10MW energy generation capacity in 2010 to 8GW in 2016, is a giant leap that the Indian solar sector has successfully made. Reduction in costs and increased global demand for solar installation have played a major role in giving India a prominent place in global solar sector, but there are a few more components that have contributed to such revolutionary success.

Renewable energy projects led by solar and wind projects have become the key focus of a country quite keen to scale up its power capability rapidly. Here is an analysis of the factors behind this trend in India and its ability to attract the $100bn investment required by 2022.

The renewable energy sector is currently emerging as the only viable driver of the Indian energy industry, despite accounting for only 13.0 per cent (ex hydro) of the country’s 298GW installed power capacity as of FY16. It is largely a result of thermal projects being in the doldrums due to low PLFs, delays in clearances, lack of PPA and fuel shortages.

India Inc. Founder & CEO Manoj Ladwa weighs up the ‘India Opportunity’ and where the China factor fits in today.

Foreign investors can’t help but be charmed by India’s people, especially its aspirational and highly educated youth, are comforted that English is the language of business, and are enticed by the growing purchasing power of its domestic market. But almost universally, when it comes to the inevitable China comparisons, India’s ramshackle infrastructure lets it down..