‘India likely to have added over 15 GW of renewable energy capacity in FY23’
3 min read . Updated: 11 Apr 2023, 07:49 PM IST
Premium- As per its climate targets, India plans to achieve a total renewable energy capacity of 500 GW by 2030 and reach net zero carbon emission by 2070
NEW DELHI : India is likely to have added over 15 GW of renewable energy capacity in FY23 surpassing the level achieved in the previous fiscal (FY22), said Bhupinder Singh Bhalla, secretary, union ministry of new and renewable energy.
Addressing an the inaugural session of R&D Conclave for Renewable Energy organized by the ministry here, the secretary noted that although the final figures of capacity addition for the last financial year are yet to be released, it is likely to surpass FY22 levels. In FY22, a capacity of 15 GW renewable energy was added, which was a record high for the country.
Outlining the government’s plans to add 50 GW per annum till 2030, Bhalla said: “We intend to bid for 50 GW per annum of standard bidding in RE capacity for the next five years. The latest figures for 2022-23 are not there. In the preious year, 2021-22, we added 15 GW of RE capacity, that was a record high for India. For FY22-23, which has just ended we hope to surpass that. So, from 14-15 GW of per annum capacity, which we are installing, now we are taking it to 50 GW per year."
“That’s more than 3 three times, and that is ambitious. But if we have to reach 500 GW (by 2030) we have to pull up our socks. So, we are starting afresh and pivoting a giant leap ahead," he said while addressing the industry stakeholders.
As per its climate targets, India plans to achieve a total renewable energy capacity of 500 GW by 2030 and reach net zero carbon emission by 2070.
Last week, the ministry announced its bidding trajectory for tendering 50 GW of renewable energy capacity every year by 2030.
According to power ministry data, India had a total renewable energy capacity of 168.96 GW as on 28 February 2023, with about 82 GW at various stages of implementation and about 41 GW under tendering stage. This includes 64.38 GW solar power, 51.79 GW hydro power, 42.02 GW wind power and 10.77 GW bio power.
Considering the fact that renewable energy (RE) projects take around 18-24 months for commissioning, the bid plan will add 250 GW of renewable energy and ensure 500 GW of installed capacity by 2030. The ministry of power is also working on upgrading and adding the transmission system capacity for evacuating 500 GW of electricity from non-fossil fuel.
In addition to this, the ministry has declared a quarterly plan of the bids for FY 2023-24, which comprises of bids for at least 15 GW of renewable energy capacity in each of the first and second quarters of the financial year (April-June 2023 and July-September 2023 respectively), and at least 10 GW in each of the third and fourth quarters of the financial year (Oct-December 2023 and January-March 2024 respectively).
This capacity addition is over and above the RE capacities that would come up under schemes like rooftop solar and PM-KUSUM of the ministry, under which, bids issued directly by various states and also capacities that may come up under Open Access Rules.
Presently, Solar Energy Corporation of India Ltd. (SECI), NTPC and NHPC, are notified by the government as renewable energy implementing agencies (REIA) for calling such bids.