RE target 2022: Out of 175 GW, India has installed 83 GW so far

New Delhi: India's Renewable energy target for 2022 is a little challenging if you see it from here and now. According to the latest available figures, the cumulative renewable energy capacity of 83.38 GW has been installed in the country as on October 31. The Government has set a target of installing 175 GW of renewable energy capacity by the year 2022 which includes 100 GW from solar, 60 GW from wind, 10 GW from Biomass and 5 GW from Small Hydro. A total of 83.38 GW of renewable energy capacity has been installed in the country as on 31/10/2019 which includes 31.69 GW from solar, 37.09 GW from wind, 9.95 GW from Biomass and 4.65 GW from Small Hydro.

"To increase the deployment of renewable energy in the country, the Government of India have put in place various policies/initiatives for the promotion of renewable energy" said RK Singh, Union Minister of State (IC) New & Renewable Energy, Power and Skill Development and Entrepreneurship in Lok Sabha on Wednesday. "These initiatives include incentives such as accelerated depreciation, waiver of Inter-State Transmission System (ISTS) charges and losses, viability gap funding (VGF) and permitting Foreign Direct Investment up to 100 per cent under the automatic route. Renewable Energy Projects are awarded through a transparent bidding process" the minister added.

The government has also issued standard bidding guidelines to enable the distribution licensees to procure power at competitive rates in a cost-effective manner.

Out of India's target of 175 GW of renewable energy capacity by the year 2022 includes 100 GW from solar, 60 GW from wind, 10 GW from Biomass and 5 GW from Small Hydro- RK Singh, Union Minister of State (IC) New & Renewable Energy, Power and Skill Development and Entrepreneurship

The cumulative renewable energy capacity of 83.38 GW has been installed in the country as on October 31.