MNRE dismisses reports that said India will miss its RE target

New Delhi: The Ministry of New and Renewable Energy (MNRE) refuted reports that appeared in the media, claiming that India might miss its renewable energy (RE) target by 42 percent. The ministry termed the report "ill founded, factually incorrect and lacking credibility.
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" The government asserted that India was on course to pushing its clean power capacity to 175 GW by 2022.

What did the Crisil report say about India's RE target?

The reports that appeared in the media were based on a Crisil report that said that India was likely to miss its RE target of 175 GW by 2022 by a wide margin of 42 percent due to regulatory challenges, policy flip-flops and also a steep fall in tariffs.

'Crisil did not consult MNRE for its views'

"The CRISIL report… is neither factually correct nor takes into account initiatives taken by the MNRE to facilitate accelerated development and deployment of renewable energy in the country. This report lacks in credibility in all respects as CRISIL did not even bother to consult this Ministry for its views…doubts are ill-founded and not reflective of the status on the ground and plans ahead," the MNRE said in a statement.

What's the current status?

By the end of September 2019, India has installed more than 82,580 MW of RE capacity. Out of this, 31,150 MW of capacity are under various stages of installation. "At the current pace, India would have over 1,13,000 MW of renewable power capacity by the first quarter of 2021. This would be nearly 65 per cent of the targeted capacity," the ministry said.

"Besides this, around 39,000 MW of renewable power capacity is at various stages of bidding which would be installed by September 2021, taking the percentage of installed capacity to over 87 per cent of the targeted capacity," it added.