India’s 600 shovel-ready clean energy projects can accelerate Rs 6 lakh crore of equity, debt: Report

Over 600 ‘shovel-ready’ low carbon investment opportunities in India’s renewable energy project pipeline have the potential to accelerate about Rs 2 lakh crore of equity and Rs 4 lakh crore of project finance debt, according to a recent report.

It said that these projects would support close to 15 lakh fresh jobs in the immediate future.

These investment opportunities in the pipeline with the potential for post-pandemic economic recovery have been identified in the report released by consultancy firm, Ernst and Young (EY), and the Federation of Indian Chambers of Commerce and Industry (FICCI) on Friday.

“Policymakers need to reflect on the urgency of the challenges posed by COVID-19 and leverage on the existing clean energy programmes for quick economic recovery,” said Somesh Kumar, Partner and National Leader, Power & Utilities, EY India.

He added that labour intensive ‘shovel ready’ low carbon infrastructure projects which have strong interactions with the hard-hit construction industry must be at the focus of the post COVID green stimulus efforts.

The report titled, ‘Accelerating post-pandemic economic recovery with clean energy infrastructure and jobs in India’

ET Energy World
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