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NEW DELHI : India has the potential to generate a whopping 212 billion in revenue by investing in renewable energy and cleantech focused ventures by 2030, according to a report titled ‘Investing for Impact: Renewable Energy & Cleantech’.
The report said that about 3.4 million jobs can be created 2030 with an investment of $350 billion in several ventures and initiatives dedicated to renewable energy and cleantech.
The report was prepared by Aspire Circle with the help of 16 co-authors. The co-authors include Amit Bhatia, Founder, Aspire Circle and Aspire Impact, Praveer Sinha, CEO & MD, Tata Power and Tarun Mehta, Co-Founder & CEO, Ather Energy.
“India is clearly emerging as a dominant player in renewable energy sector in Asia, and an attractive investment destination for the world. Our research shows that India’s top 10 ideas have the potential to deliver growth in annual investments from $61 bn in 2020 to $266 bn in 2030 and revenues from $24 bn to $146 bn,“ said Amit Bhatia, Founder of Aspire Circle & Creator - Impact Future Project.
“These ideas will serve and impact 919 mn Indians, create 3.4 mn jobs, and grow the overall sector to a whopping $212 bn by 2030- and help deliver India’s Net Zero target of 2070," he added.
Praveer Sinha, CEO & MD, Tata Power said: “India’s pledge to reach Net Zero emissions by 2070 at COP27 in Glasgow is a clarion call to all of us to turbocharge our impact initiatives, especially those of us in the energy sector."