India to see $170B energy investment by 2026: IEA
India is gearing up for a massive energy push, with the International Energy Agency (IEA) estimating investments will hit $170 billion by 2026.
The real stars here are solar power and oil refining, which have seen huge annual growth, 25% and 23% respectively, and together they've powered one-quarter of the sector's investment boost over the past five years.
India surpasses 50% non-fossil power capacity
India has already surpassed its target of sourcing 50% of installed power generation capacity from non-fossil fuel sources, five years ahead of schedule.
Now, renewables make up more than 50% of installed capacity, leading to even bigger infrastructure upgrades.
By 2026, transmission and distribution investment is set to reach $26 billion, alongside continued expansion in energy storage.
All this puts India on track for an ambitious goal: reaching 500 GW non-fossil fuel capacity by 2030.