India has retained the third position in the 58th Renewable Energy Country Attractiveness Index (RECAI) released by the consultancy firm Ernst & Young (EY). According to the report, the US, mainland China and India continue to retain the top three rankings and Indonesia is a new entrant to the RECAI.
The 2021 RECAI ranks the world’s top 40 global markets (nations) on the attractiveness of their renewable energy investment and deployment opportunities. With the environment, social and governance (ESG) measures soaring to the top of the agenda for companies and investors, RECAI also highlights that corporate power purchase agreements (PPAs) are emerging as a key driver of clean energy growth.
About the power purchase agreements Index:
A new PPA Index – introduced in this edition of RECAI – focuses on the attractiveness of renewable power procurement and ranks the growth potential of a nation’s corporate PPA market. India is ranked sixth among the top 30 PPA markets.