India aims to be the world's largest green energy producer

India is rapidly expanding its renewable energy capacity with the goal of becoming the world's largest green energy producer. In a recent interview with CNBC Africa, Sumant Sinha, Chairman and CEO of Renew Power, shared insights on the valuable lessons Africa can learn from India's renewable energy ambitions. Sinha highlighted the significant opportunities that arise when providing power to underserved populations, citing India's experience in aggressively pursuing universal electricity access. He emphasized the importance of proactive goal-setting and technological advancements in driving down the costs of renewable energy, particularly solar power. Sinha encouraged African countries to stay abreast of evolving technologies to capitalize on the cost benefits and environmental advantages offered by renewables. He predicted a global shift towards renewable energy sources, paving the way for cleaner and more affordable power generation. Sinha underscored the need for policy clarity, stable regulatory environments, market size and creditworthiness of off-takers to attract investments in the renewable energy sector. He also stressed the importance of long-term power purchase agreements to secure financing for projects. Overall, Sinha's insights offer a roadmap for African nations to accelerate their transition towards sustainable energy solutions and capitalize on the economic and environmental benefits of renewable energy.