This report analyses the risk perceptions of debt financiers towards solar photovoltaic (PV) and wind projects from 2014 to 2018. It also examines recent developments impacting the pace of capacity addition in India. Part of a series of trends reports being undertaken by the CEEW Centre for Energy Finance (CEF) in collaboration with the International Energy Agency (IEA), this study follows a 2018 report on the evolving investment landscape for grid-connected renewable energy (RE) in India.