India’s energy investment is projected to hit a record $170 billion in 2026, driven by rapid expansion in solar photovoltaic (PV) capacity and a surge in oil-refining projects, as per a report by International Energy Agency (IEA) said. Energy spending in India has risen at an average annual rate of 11% over the past five years, with solar PV investment up about 25% annually and oil-refining investment growing roughly 23% in the same period.