Renewables may account for 18% of total power generation by 2022: Moody's

The share of renewable energy in the country's electricity generation mix is likely to rise to around 18 per cent by 2022, from 7.8 per cent at present, owing to the continuous focus on capacity addition from solar and wind, a report said Tuesday.

Global ratings agency Moody's Investors Service in its report said India is taking positive steps to align its power generation mix with its Nationally Determined Contribution (NDC) commitments under the Paris Climate Agreement.

"Renewable energy's share of new capacity additions for power generation has been the largest at around 60 per cent over the last two years, while additions to coal-fired generation capacity have slowed sharply," said Abhishek Tyagi, vice-president and senior analyst, Moody's Investors Service.

He further said that large companies have also announced plans to make their operations more energy-efficient and source more renewable energy.