IEA Foresees Hike in India's RE Sector Investment

The International Energy Agency (IEA) has announced that it anticipates India to review its renewable energy capacity addition target in the upcoming years, a top executive of the energy body said.

India is possible to review the target upwards and this will necessitate a higher flow of investments into the renewable energy sector, Fatih Birol, Executive Director of IEA, said.

India presently has a target to set up 175 GW of renewable power, led by solar energy, by 2022. The country's Power Minister RK Singh said last year that India might surpass the target and achieve 225 GW.

India's energy sector saw an outlay of approximately $90 billion last year, Birol said.