Renewable energy capacity are expected to increase by 33% annually: CRISIL

CRISIL the rate of capacity addition in renewables is anticipated to climb 33% to roughly 20 gigawatts (GW) annually over the current and following fiscal years. Given the large multiplier effect of road development and the crucial part renewable energy may play in realising India's energy transformation, this is good news for the economy.

According to Gurpreet Chhatwal, managing director of CRISIL Ratings, "the pace of execution of renewable energy projects is set to increase 33% to 20 GW per annum over current and next fiscals 15 GW per annum in the past two fiscals supported by a healthy executable pipeline of 50 GW of projects as on March 31, 2023."

The expansion is anticipated to continue over the medium term, helped by supportive policies, high investor interest, and sound financial standing, which will result in stable credit quality for the companies in the CRISIL Ratings portfolio in both sectors.