According to reports, high entry-barriers for foreign investors and the rising cost of financing have led to the country slipping to a low eighth position on the renewable energy country attractive index in the first quarter of 2013, says an Ernst & Young survey.
According to the report ‘Renewable Energy Country Attractiveness Index’, India’s ranking slipped from fourth position to eighth this period, due to several challenges, including high cost of finance, entry-barriers for external investors, among others.
“While the country’s rating may have slipped, there are significant positives. India is only behind Belgium in the priority the renewable sector receives,” he said.
The ranking is made based on increased focus on the role renewable energy plays in country’s energy mix, energy supply and demand, the cost competitiveness of renewable energy, the importance of de-carbonisation and an increased emphasis on the economic and political stability of each particular market.
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