Virtual PPA- A Primer On Regulatory Dynamics

1. Introduction

India in this age is standing at the crucible of development where it is becoming the land of ideas, industry and innovation. To fuel these dreams of innovation and growth, as well as to forge them into reality, modern India is ramping up its demand of energy while balancing it with the temperance of sustainability. India has positioned itself as a leader in sustainability, as evidenced by its aggressive targets announced in the Nationally Determined Contributions (NDCs) under the United Nations Framework Convention on Climate Change (1992)¹, where it has pledged to reduce the emission intensity of its gross domestic product by 45% (forty five per cent) by the year 2030 and achieve 50% (fifty per cent)of cumulative electric power installed capacity from non-fossil fuels and become net-zero emissions country by 2070².