Posted September 01, 2020 06:37:17India will invest $5 billion in the nation’s wind and wind energy sector by 2022 and will invest nearly $2 billion in solar energy, according to a statement by the Indian government.
The new government plan would invest $7.3 billion in wind and $2.3-$2.6 billion in hydroelectric energy over the next five years, the statement said.
India is a global leader in wind energy, which accounts for nearly 40% of the country’s electricity needs.
India has a large solar market that has seen investment surge in recent years.
India’s solar industry is expected to grow at a compound annual growth rate of 7% from 2021 to 2022, according an analyst.