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The government has set the goal of installing 175 GW of renewable energy capacity by 2022, which includes 100 GW of solar energy, 60 GW of wind power, 10 GW of biomass and 5 GW of small Hydroelectric projects.
India’s renewable energy (RE) capacity had crossed 84 gigawatt (GW) mark by the end of November this year, fresh data released by the ministry of new and renewable energy (MNRE) showed.
“A total of 6083.48 MW of renewable energy capacity has been added during the year 2019-2020, taking the cumulative installed RE capacity to 84.39 GW as on November 2019,” said the monthly report released by MNRE.
The installed RE capacity of 84.39 Gw includes 37.28 GW from wind energy, 32.52 GW from solar, 9.94 GW from bio-power and 4.65 GW from small hydro plants. At present 31.68 GW capacity projects are at various stages of implementation and 18.68 GW capacity projects are under various stages of bidding.
The ministry has so far spent around 53 per cent or Rs 2,788.44 crore of its total budget allocation for the current financial year.
Recently, the minister for power and renewable energy R K Singh told parliament the government has estimated an investment of about Rs 4 lakh crore over the course of next three years to meet the country’s 175 gigawatt (GW) renewable energy target by 2022.
The minister added that most of the grid connected RE projects in the country are being implemented by private sector developers selected through transparent bidding process.