India become a leading renewable energy auction country- secure 2nd rank in world largest renewable market


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.