Renewable power installed capacity has already reached over 70 GW. Over 40 GW renewable power capacity is under construction/tendered.
Solar energy capacity increased by over 8 times from 2.63 GW in 2014 to 22 GW.
Wind energy capacity increased by 1.6 times from 21 GW in 2014 to 34 GW.
Trajectories for bidding 115GW renewable power projects upto March 2020 have been announced.
We are well on track to achieving 175 GW target of installed renewable energy capacity.
Trends suggest that the target will not only be achieved but exceeded.
New schemes at advanced stages of being launched:
i. KUSUM (KisanUrja Suraksha evamUtthaanMahabhiyan)Scheme: a.27.5 lakh solar pumps (17.50 lakh standalone + 10 Lakh Grid-connected) b.10 GW of Solar Power Plants of intermediate capacity of 0.5-2 MW c.50,000 Grid-connected tube-wells/lift irrigation and drinking water projects
ii. SRISTI (Sustainable Rooftop Implementation for Solar Transfiguration of India) - new scheme for solar rooftop being formulated.
iii. Round the Clock renewables policy has been finalized.
For realising 175 GW target a number of policy measures have been taken.
i. Transparency is an overarching guidelines principle of our government. Transparent bidding and facilitation for procurement of solar and wind power through tariff based competitive bidding process have led to significant reduction in cost of solar and wind power. In the year 2017 competitive bidding guidelines for procurement of solar and wind power have been notified. The lowest tariff of Rs. 2.44 per unit for solar and Rs. 2.43 per unit for wind discovered. The first solar plant bid at Rs. 2.44 will be inaugurated in August 2018.
ii. We have waived the Inter State Transmission System charges and losses for inter-state sale of solar and wind power for projects to be commissioned by March 2022. This will encourage setting up of the projects in states that have greater resource potential and availability of suitable land. It also helps in creating a pan-India renewable power market, as generation in excess of the state's own requirement could be transmitted to the resource poor states without additional financial burden;
iii. In our efforts to send right signal about government of India's commitment towards renewables we have notified Renewable Purchase Obligation (RPO) trajectory upto the year 2019. We are in a process to notify RPO trajectory upto the year 2022;
iv. For mainstreaming renewables, we have introduced Renewable Generation Obligation (RGO). This provision will encourage coal based thermal power generators to diversify in renewable energy portfolio;
v. For optimizing land use and harnessing solar and wind energy potential optimally, we have notified Solar-Wind hybrid policy.
This policy will help in better harnessing of renewable energy resources and to an extant also address renewable energy variability, The Ministry has also brought out one tender for setting up 2000 MW solar-wind hybrid in existing projects;
vi. Target for Solar Parks has been enhanced from 20 GW to 40 GW. 41 Solar Parks in 21 States with aggregate capacity of over 26 GW have already been sanctioned. Largest Solar Park of 2 GW capacity in Pavagada, Karnataka is under implementation. New Solar Park policy has been announced to encourage participation by private parties and CPSUs in setting up Solar Parks.
vii. Off-shore from Tamil Nadu and Gujarat coast provides among the best locations from wind power generation. In order to harness this potential we have formulated offshore wind power policy and expression of interest for initial 1GW off-shore wind power have already been issued;
viii. Creating an ecosystem for domestic manufacturing of solar-cells is our priority. We have issued expression of interest for setting up solar PV manufacturing capacities linked with assured off take of 20GW. This stimulus is expected to kick start domestic manufacturing in solar energy space;
ix. The Green Energy Corridor projects seek creation of grid infrastructure for renewable power evacuation and to reshape grid for future requirements. The intra state transmission scheme (InSTS) being implemented by eight renewable rich States with an investment of Rs. 10,141 crores will set up about 9400 ckm transmission lines and Substations of total capacity of approx. 19000 MVA to be completed March 2020.
x. Over US$ 42 billion investment was made in renewable energy in India during last 4 years. New opportunities have emerged- altogether new business space has been created. Indian companies have begun to explore foreign stock exchanges as a source of funds. India is progressively becoming a most favored destination for investment in renewables.
Foreign investors can enter into joint venture with an Indian partner for financial and/or technical collaboration and for setting up of renewable energy-based power generation projects. 100% foreign investment as equity qualifies for automatic approval. Government of India is also encouraging foreign Investors to set up renewable energy-based power generation projects on build-own-operate basis.
xi. Renewable energy projects set up in last 4 years have created around 10 million man day's employment per annum. The Suryamitra program was launched for creation of a qualified technical workforce in 2015 and over 18,631 Suryamitras have been trained under the programme up to 31 March 2018.
xii. For quality assurance we have notified standards for deployment of solar photovoltaic systems/devices; and
On 6 December 2017, the International Solar Alliance (ISA) has become first international intergovernmental organization headquartered in India. ISA is part Shri Narendra Modi, Hon'ble Prime Minister of India's vision to provide clean and affordable energy to all.
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