Private funding of clean energy rises 54%
The flow of private investments into India’s clean energy sector rose 54% to over $10 billion in 2011, marking the second-highest growth rate for such investments among the G-20 nations. According to a latest report by The Pew Charitable Trust, clean energy investments, excluding research and development , have grown by 600% since 2004 due to “effective national policies that create market certainty” .
“On a number of measures , India has been one of the top performing clean energy economies in the 21st century, registering the fifth highest five-year rate of investment growth and eighth highest in installed renewable energy capacity ,” a Pew release quoted its clean energy programme director Phyllis Cuttino as saying on Thursday.
The government’s National Solar Mission, with a goal of 20GW (giga watt) of solar power installed by 2020, helped drive the seven-fold jump in solar energy investments to $4.2billion, the report said. India received $4.6 billion and an additional 2.8GW of capacity was installed over the course of the year. Now, the nation has 22.4GW of installed clean energy generating capacity.