India likely to add 80 GW of renewable energy capacity in next 5 yrs: Survey

India is expected to add about 80 gigawatts (GW) of renewable energy capacity in the next five years, according to a survey.

About 47 GW will be from utility scale solar, 21 GW from wind, 8 from rooftop solar and 3 GW from floating solar projects, the survey by consultancy Bridge To India, in which 41 companies from different countries participated, said.

About 73 per cent of the respondents are optimistic about the growth prospects of the Indian renewable industry, it said.

Around 78 per cent the respondents feel that the government has propelled industry growth by increasing the renewable target to 175 GW.

The government aims to achieve the renewable energy target of 175 GW by 2022 of which 100 GW would be solar energy and 60 GW through wind energy.

However, majority of respondents see "offtake risk, land acquisition and uncertain policy environment as the biggest concerns in the sector," the survey further said.

About 90 per cent of the participants feel that the bidding ...