A study by the Institute for Energy Economics and Financial Analysis (IEEFA) found that in the renewable energy sector of India, investments are seeing a growth again. In the last financial year, the growth was slowed down because of the Covid-19 pandemic.

In the Indian renewable energy sector, the growth in investment reached $6.6 billion, beating the record of $6.4 billion in the 2020-21 fiscal year.

An energy economist at IEEFA, Vibhuti Garg said, “Rebounding energy demand and a surge of commitments from banks and financial institutions to phase out fossil fuel financing are helping drive investment into Indian renewable energy infrastructure.” Vibhuti also co-authored the mentioned report.