Interest in investing in the Indian renewable energy sector remains strong amid the ongoing Covid‑19 pandemic. In the second quarter of 2020, over 12 GW of utility-scale renewable projects were sanctioned at the peak of a nationwide lockdown. Financial performance expectations are crucial. Even as the economic downturn has curbed investment around the world, the relatively resilient return picture around renewable power assets and equity securities is creating new opportunities for investors to allocate capital towards the sector. Still, a number of risks and barriers to realising the higher levels of investment needed to align with a sustainable pathway remain. The Clean Energy Investment Trends 2020 report examines the appeal of utility-scale solar PV and onshore wind energy in India by analysing project-level equity returns over 2019 and into the first half of 2020. It looks at the key sensitivities in regard to returns and challenges to attracting capital that stem from issues related to policy uncertainty, the financial health of state distribution companies (DISCOMS), demand risk, and land-related constraints. In addition, the report offers an update on key renewable energy debt financing and market trends.