34,160 MW renewable energy capacity under implementation

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34,160 MW renewable energy capacity under implementation

34,160 MW renewable energy capacity under implementation

01 Mar 2020
Renewable energy capacity of 7,591.99 MW has been commissioned in 2019-20 (up to December 2019), while another 34,160 MW is under various stages of implementation, informed RK Singh, Minister of State (I/C) for New & Renewable Energy, Power and MoS for Skill Development and Entrepreneurship, according to a PIB release. Further, renewable energy capacity addition in 2019-20 is expected to exceed the capacity addition of 8,532.22 MW achieved in 2018-19.

Most grid-connected renewable energy projects in India are being implemented by private-sector developers. Capital investment made by these developers is their privileged information. However, based on standard capital costs per mega watt, an investment of Rs.404.59 billion is estimated to have been made in the renewable energy sector in 2018-19. And, an investment of  Rs.367.29 billion is estimated to have been made in 2019-20 up to December 2019.

Singh further elaborated on the steps being taken to boost investment in the renew sector which, as per the release, include permitting 100 per cent FDI under the automatic route; strengthening PPAs; mandating the requirement of a letter of credit as payment security mechanism by distribution licensees for ensuring timely payments to renewable energy generators; setting up ultra mega renewable energy parks to provide land and transmission on a plug-and-play basis to investors; waiver of inter-state transmission system charges and losses for inter-state sale of solar and wind power for projects to be commissioned by December 31, 2022; notification of standard bidding guidelines to enable distribution licensees to procure solar and wind power at competitive rates; declaration of trajectory for renewable purchase obligation up to 2022; laying transmission lines under the Green Energy Corridor Scheme for evacuation of power in renewable rich states; finalisation manufacturing-linked tenders for setting up domestic manufacturing capacity; and launching new schemes such as the Pradhan Mantri Kisan Urja Suraksha Evam Utthaan Mahabhiyan, among others.


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