July 19, 2019 / 5:40 AM / 3 months ago

IEA sees hike in India's renewable energy sector investment

FILE PHOTO: International Energy Agency Executive Director Fatih Birol speaks in Rome, Italy, December 11, 2015. REUTERS/Max Rossi/File Photo

NEW DELHI (Reuters) - The International Energy Agency (IEA) expects India to revise its renewable energy capacity addition target in the coming years, a top executive of the energy body said on Friday.

India is likely to revise the target upwards and this will entail a higher flow of investments into the renewable energy sector, Fatih Birol, executive director of IEA, said in New Delhi.

India currently has a target to set up 175 GW of renewable power, led by solar energy, by 2022. The country’s Power Minister RK Singh said last year that India might surpass the target and achieve 225 GW.

India’s energy sector saw an investment of about $90 billion last year, Birol said.

Reporting by Nidhi Verma, Editing by Sherry Jacob-Phillips

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