Rajya Sabha updated on 175-GW progress

India needs US$76 billion to install the balance of 103.67 gigawatt of renewable energy out of the 175 GW target, Rajya Sabha was told on 24 July 2018.

The capital required, based on current costs, includes US$53.20 billion as debt and US$22.80 billion as equity for the debt-equity ratio of 70:30 as per Central Electricity Regulatory Commission (CERC) norms.

This was stated by Minister of State for Power and New & Renewable Energy, R. K. Singh in a written reply to Rajya Sabha.

Around 11,887-MW was installed in 2017-18 and 11,322 MW in 2016-17, taking the total installed capacity to 69,784 MW.

Solar tariffs in India saw the lowest ever level of Rs.2.44 per unit in reverse auctions carried out by Solar Energy Corporation of India (SECI) in May 2017, for 200 MW and again in July 2018, for 600 MW.

Renewable energy sector in India is attracting companies from across the world, he said.

Of the 69,784 MW installed as of 31 March 2018, around 34,145 MW is from Wind, around 21,651 MW from solar, around 4,486 MW from Small Hydro Power and around 9,502 MW from Bio-power.

The Government’s 175 GW target by 2022 calls for 100 GW of solar, 60 GW of wind, 10 GW of biomass and 5 GW of small hydro capacity.

As of June 2018, 71.33 GW of renewable energy capacity has been installed in the country. fiinews.com