The International Energy Agency (IEA) estimates that the country’s renewable power generation capacity would ‘almost double’ over the 2019-24 period, but cautioned that the growth would depend on the ‘operational and financial performance of its discoms’. Other factors which would impact the pace of adding renewable energy flagged by IEA in its latest ‘Renewables 2019’ report are ‘progress under the green-energy corridors, and schemes to improve access to affordable financing’.
The country has ambitious plans of having 175 giga-watt (GW) by December, 2022. The installed renewable capacity now stands at 82.6 GW. Thanks to the devaluation of the rupee, rising finance costs, government-mandated tariff caps in reverse auctions and cancellation of renewable project tenders, the pace of adding renewable generation capacities slowed down in FY19, when the country added 8.6 GW against 11.3 GW and 11.8 GW added in FY17 and FY18, respectively. Read More
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