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India's air pollution crisis spurs clean energy investment

Big conglomerates vie with foreign-money-backed startups to add capacity

A smoggy morning in New Delhi: India aims to double its renewable energy capacity by 2022.   © Reuters

MUMBAI -- Indian companies from startups to the sprawling Tata group are investing more in wind and solar power, emboldened by government efforts to improve urban air-quality levels that are among the world's worst.

Goldman Sachs-backed unicorn ReNew Power pans to expand its renewable energy capacity by about 60% by 2021. Local rival Greenko Energy Holdings, which counts a Singapore wealth fund among its investors, is also growing its base.

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