India might miss 2022 renewable energy goal
POWER & RENEWABLE ENERGY

India might miss 2022 renewable energy goal

India has often talked about curbing emissions and increasing forest cover to make progress toward the pledges under the Paris climate change accord. However, has not spoken much about renewable energy.

The pandemic has halted work and projects resulting in more obstacles and lesser chances of achieving the goal to increase renewable energy capacity to 175 GW by 2022. Solar and wind energies make a total of 160 GW and India can fall 36% short of achieving the target.

These numbers shed light on the structural problems faced by India towards decarbonization. The domestic power suppliers controlling almost 90% of electricity transactions struggle to handle losses creating more debt. Which further impacts their ability to purchase sufficient power to service customers, leading to deferred payments to power producers and curbing the overall growth in India.

Financial distress among the state retailers is one of the major reasons for the set target to seem out of reach. Several projects that had been auctioned by the federal government struggled to find buyers. Approximately one-fourth of wind projects which were awarded in auctions failed to take off because of problems related to distribution utilities.

According to Deloitte Touche Tohmatsu Debasish Mishra, the country needs to stop its dependency on state power distribution companies for the expansion of green capacity. If the dependency persists the climate targets will be at risk.

Image Source

India has often talked about curbing emissions and increasing forest cover to make progress toward the pledges under the Paris climate change accord. However, has not spoken much about renewable energy. The pandemic has halted work and projects resulting in more obstacles and lesser chances of achieving the goal to increase renewable energy capacity to 175 GW by 2022. Solar and wind energies make a total of 160 GW and India can fall 36% short of achieving the target. These numbers shed light on the structural problems faced by India towards decarbonization. The domestic power suppliers controlling almost 90% of electricity transactions struggle to handle losses creating more debt. Which further impacts their ability to purchase sufficient power to service customers, leading to deferred payments to power producers and curbing the overall growth in India. Financial distress among the state retailers is one of the major reasons for the set target to seem out of reach. Several projects that had been auctioned by the federal government struggled to find buyers. Approximately one-fourth of wind projects which were awarded in auctions failed to take off because of problems related to distribution utilities. According to Deloitte Touche Tohmatsu Debasish Mishra, the country needs to stop its dependency on state power distribution companies for the expansion of green capacity. If the dependency persists the climate targets will be at risk. Image Source

Next Story
Infrastructure Urban

3i Infotech Reports Rs 7.25 Bn Revenue for FY25

3i Infotech, a leading provider of digital transformation, technology services and technology solutions, announced its consolidated financial results for the fourth quarter and full year FY25, ended on March 31st, 2025. The company maintained its growth momentum, displaying consistent progress for the 3rd consecutive quarter.In Q4 FY25, 3i Infotech reported revenue of Rs 1.87 billion, reflecting steady performance compared to Rs 1.81 billion in Q3 FY25 and Rs 1.97 billion in Q4 FY24. The company delivered strong profitability improvements, with gross margin growing by 14.8 per cent Q-o-Q and 1..

Next Story
Infrastructure Urban

Emerald Finance Joins Baya PTE to Boost SME Bill Discounting

Emerald Finance is a dynamic company offering a spectrum of financial products and services including its flagship Earned Wage Access (EWA) in India, has entered into a strategic partnership with Singapore-based Baya PTE through its Indian subsidiary. This collaboration aims to strengthen bill discounting services for Small and Medium Enterprises (SMEs), enabling faster access to working capital and improved cash flow management.The initiative is designed to support SMEs that supply to large corporates such as JSW Steel, Delhivery, and PVR INOX, among others. By facilitating timely invoice dis..

Next Story
Infrastructure Urban

BLS E-Services Crosses Rs 5 Bn Revenue Mark in FY25

BLS E-Services, a technology-enabled digital service provider, announced its audited consolidated financial results for the quarter and full year period ended 31 March 2025.Speaking about the performance and recent updates, Shikhar Aggarwal, Chairman, BLS E- Services said, “We are delighted to report a remarkable performance in FY25, as we achieved several milestones during the fiscal year. FY25 marked our highest-ever financial performance, as we surpassed Rs 5 billion milestone in Total Income during the year, which was reported at Rs 5.45 billion, a notable YoY growth of 76 per cent. The ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?