New Delhi, Nov. 10 -- India will arrive at COP31 with an unusual credential: it has already surpassed its nationally determined contribution (NDC) of achieving 50% installed power capacity from renewables by 2030. By July this year the share had soared past 54%, with more than 300GW of solar, wind, hydro, nuclear and biopower now feeding into the grid. In fiscal year 2026 (FY26), the country added a record 55GW of clean power capacity.

There can therefore be no debate on whether India is doing enough to meet its climate commitments.

However, the conversation must now pivot to the cost of financing new renewable energy (RE) capacity. This is pertinent because in August, the Solar Energy Corporation of India (SECI) awarded about 1GW of ne...