India is now on 2nd spot in world largest renewable auction market. Developing nations are now bending toward renewable energy and seeing an eco-friendly source of energy as a gold mine and India is now one of the leading nations in the world in renewable energy installation.
India secures its 2nd position with a three spots jump in 2018, Chile is on 1st spot on the list, as per the list released by 2018 Climatescope. China is at 7th rank. India expanding as a new auction market for renewable energy and 2nd largest clean energy investment destination. With an investment around 9.4 billion in eco-friendly power energy during 2017.
Most of the investment done in solar energy installation sector. India also getting an increment in their auction capacity 68% from 2017 to 2018.
Renewable energy installation sector is exceeding with coal power generation in the year 2017 as India is objective to install 175 GW eco-friendly energy stations by 2020. The government said they have to reduce its non-conventional energy target for future by 11GW to 230GW as developing country are attract toward renewable energy and Government want to aim renewables energy auction for future.