# India's Clean Energy Success at COP31

> COP31 must lower capital costs to make clean energy cheaper for developing nations.
- Title: India's Clean Energy Success at COP31 · mint | Shortify
- Summary: COP31 must lower capital costs to make clean energy cheaper for developing nations.
- Keywords: cop31, renewables, clean energy, india, solar energy, wind energy, renewable capacity, capital costs, international finance, sovereign guarantees, renewable energy projects, power purchase agreements
- Source: mint — https://livemint.com/opinion/online-views/india-clean-energy-targets-renewables-cop31-global-capital-carbon-footprint-11793958470245.html
- Author: mint
- Published: 2026-11-10T01:30:15+00:00
- Read time: 1 min
- Topics: cop31, renewables, clean energy, india, solar energy, wind energy, renewable capacity, capital costs, international finance, sovereign guarantees, renewable energy projects, power purchase agreements
## India's Clean Energy Milestone
India has surpassed its 2030 clean energy targets with 54% renewable capacity by July 2026.
## Record Renewable Capacity
India added 55GW of clean power capacity in fiscal year 2026, exceeding previous records.
## Cheaper Renewable Tariffs
SECI awarded 1GW of round-the-clock renewables at ₹5.25-5.26 per kWh, cheaper than 2025 coal contracts.
## Capital Cost Gap
India's clean energy capital costs are 8.8-10% versus 2.6%-5% in Europe and US, making it more affordable.
## Investment Opportunities
India needs 20,000 circuit-km of transmission lines and 120 GVA substation capacity annually to integrate 500GW of renewables.
## Supply Chain Gaps
India imports nearly all wafers and polysilicon but targets 80GW of domestic production by 2028.
## COP31's Role
COP31 must create mechanisms to lower capital costs for developing countries' clean energy projects.
## India's Clean Energy Advantage
India's market offers 25-year power purchase agreements with credible agencies, making it attractive for investors.
## Key takeaway

India has met 2030 clean energy targets; COP31 should create cheaper global capital for renewables.