Sumitomo to double investment in renewable energy projects in India to $1.3 billion

This amount is nearly twice the initial plan. The investment will be managed through a partnership between the Japanese company and India's AMPIN Energy Transition. Together, they aim to develop projects with a combined capacity of 2 gigawatts by the end of the fiscal year that concludes in March 2028.

The projects will focus on solar and wind power generation. India is working to speed up the adoption of renewable energy sources to meet its target of achieving net-zero emissions by 2070.

At present, around 75% of the country's electricity is produced using fossil fuels.

source: nikkei.com