India, Feb. 27 -- The carbon trading platform is likely to be functional in India by September, which will be a driver for renewable energy transition, a senior official said on Thursday.This assumes significance in view of India's ambitious target of having 500GW of renewable energy by 2030. This may also help make renewable energy more viable in the backdrop of the slow pace of signing of power purchase agreements (PPAs) in the country.

"Carbon trading platform is on track and most likely by September, you'll find that also happening in the country. Probably that will be another driver for RE (renewable energy) to pick up, and particularly in the C&I (commercial and industrial) segments that will be a big driver," said Central Electric...