From UPSC perspective, the following things are important :
Prelims level : RE Country Attractiveness Index (RECAI)
Mains level : Renewable Energy in India
India has retained the third rank in the Renewable Energy Country Attractiveness Index released by consultancy firm EY.
RE Country Attractiveness Index (RECAI)
- The RECAI ranks the world’s top 40 markets on the attractiveness of their renewable energy investment and deployment opportunities.
- The rankings reflect assessments of market attractiveness and global market trends.
- India remained at the third position since three consecutive years.
- India’s thriving renewable energy market conditions, inclusive policy decisions, investment and technology improvements focusing on self-reliant supply chains have pushed the transition.
- RECAI highlights that corporate power purchase agreements (PPAs) are emerging as a key driver of clean energy growth.
- A new PPA Index – introduced in this edition of RECAI – focuses on the attractiveness of renewable power procurement and ranks the growth potential of a nation’s corporate PPA market.
- India is ranked sixth among the top 30 PPA markets.
- The US, mainland China and India continue to retain the top three rankings and Indonesia is a new entrant to the RECAI.
- The top-performing markets have held their ground in this latest issue – with no movement into or out of the top eight.
- France (fourth position, up by one) and the UK (fifth position, down by one), while Germany (sixth position, up by one) has edged back ahead of Australia (seventh position, down by one).