This analysis looks at how project risks and risk perception for wind and solar have evolved from 2011 to 2020 to understand the impact of policies on the RE sector. It tracks the credit ratings of wind and solar projects and maps them against significant RE policies on a timeline. The study also tracks tariffs and their drivers to uncover their impact on wind and solar projects. With an installed capacity of over 100 GW in August 2021, the Indian RE sector is already the fourth-largest in the world and supplies to around 10 per cent of the country’s total electricity. The five-fold increase in installed RE capacity from 2010 to 2020 can be attributed to supportive RE policies and the rapid reduction in technology costs over the period.The commitment to grow it is evident now more than ever. At the recently concluded COP-26, the country announced a commitment to meet 50 per cent of the electricity requirements from RE by 2030.