47.86 GW of Renewable Capacity Installed in India Over Last 6 Years

RK Singh has informed the parliament that a total of 47.86 gigawatts (GW) of renewable energy capacity has been installed in India over the past six years.

Power and New & Renewable Energy Minister RK Singh has informed the parliament that a total of 47.86 gigawatts (GW) of renewable energy capacity has been installed in India over the past six years.

“A total of 47.86 GW of renewable energy capacity has been installed in the country during the last six years i.e. March 2014 to October 2019,” Singh said in a written reply to a question in the Lok Sabha.

The government has set a target of installing 175 GW of renewable energy capacity by 2022, which includes 100 GW from solar, 60 GW from wind, 10 GW from biomass and 5 GW from small hydropower projects, he said.

The initiatives taken by the government to explore new and renewable energy sources in the country include permitting FDI up to 100 percent under the automatic route, waiver of inter-state transmission system (ISTS) charges and losses for inter-state sale of solar and wind power for projects to be commissioned up to December 2022, the minister said.

Besides other initiatives are “notification of standard bidding guidelines to enable distribution licensee to procure solar and wind power at competitive rates in a cost-effective manner, declaration of trajectory for renewable purchase obligation up to the year 2022, launching of new schemes, such as PM-KUSUM, solar rooftop phase II, 12,000 MW CPSU scheme Phase II,” Singh added.

In a response to another question asked in the other house of the Parliament, Singh had informed that India will need an investment in the region of approximately Rs 4 lakh crore to achieve the balance target of its ambitious 175 GW renewable energy generation capacity by 2022 target.

“To achieve the balance target of 91.62 GW, an investment of approx. Rs 4,14,581 Cr has been estimated as capital cost,” the minister stated in his written response.