The Central Electricity Authority (CEA) projects that solar and wind will form 51% of India’s total installed capacity, or 420GW, by 2030, with biomass and small hydro adding another 30GW, while the IEA’s India Energy Outlook 2021 says that India could add 900GW of renewable capacity by 2040.

Central Asia is ideally located to take advantage of solar energy and has vast, mostly untapped potential. Kazakhstan currently leads on installed solar capacity and the country seeks to bring its share of renewable energy to 10% by 2030 and 50% by 2050. Likewise, Uzbekistan aims to deploy significant additional renewables capacity by 2030, including 5 GW of PV.

The NSE Nifty 50 index was up 0.77% at 14,820.45 by 0450 GMT, while the S&P BSE Sensex gained 0.63% to 50,061.21.

Solar power has enormous potential as an energy source in emerging markets. In particular, Central Asia is ideally located to take advantage of solar energy and has vast, mostly untapped potential.

The 6th annual POWER WEEK ASIA Virtual Conference (15 - 18 March 2021) is now open for registration. Across 4 days, we will be broadcasting live interactive presentations, in-depth panel discussions, and networking sessions from leading experts across the world.

Hydropower accounts for 13% of India's total capacity, with 50 GW (2019). Over 93 GW of new hydropower projects are in various phases of development.

Specially designed for the African electric power & energy industry, POWER WEEK AFRICA (20 - 23 April 2021) is the 3rd annual international virtual conference delivering a unique experience for each day of the event.

One of the key mitigation measures is development of adequate energy storage capacity in India.

This dramatic growth in renewable energy capacity reinforces the fact that India is witnessing an unprecedented energy transition to low-carbon development,

Budget 2021-22 is a mixed bag in terms of support for India’s transition to a sustainable, low carbon economy.

Combined, they accounted for or 22,451 megawatts (MW) or more than three-quarters (78.09%) of the 28,751 MW of new utility-scale capacity reported to have been added last year. Wind (13,626 MW) and solar (8,543 MW) each contributed more new generating capacity than did natural gas (6,259 MW).

An expanding economy, population, urbanisation and industrialisation mean that India sees the largest increase in energy demand of any country, across all of our scenarios to 2040.

India's petroleum and steel minister Dharmendra Pradhan said stable energy markets will be crucial for both economic and demand recovery, and cooperation among consumers and producers is crucial to make that happen.

"India's peak oil demand will be much later than what many analysts predict. So we will be seeing handsome demand numbers going into 2030s and 2040s, if not 2050s,"

The benchmark S&P BSE Sensex was up 2.17% at 49,656.93 by 0457 GMT after rising as much as 3.2% to 50,154.48. The NSE Nifty 50 index climbed 2.1% to 14,581.10.