The Economic Survey 2017 tabled in the Parliament on Tuesday — the first day of the Budget session by Finance Minister Arun Jaitley, applauded the policy actions taken by the government in the renewable energy sector and mentioned how the country’ ranking 4th globally in wind power capacity.
“As a result of various actions in the right direction, India attained 4th position in global wind power installed capacity after China, USA and Germany,” noted the Survey prepared by Chief Economic Advisor Arvind Subramanium.
With the legal framework in place for the International Solar Alliance (ISA), the brainchild of Prime Minister Narendra Modi, launched during the UN climate summit in Paris, ISA will be a “major” international body headquartered in India, the Survey added.With India’s initiative, ISA envisaged as a coalition of solar resource-rich countries to address their special energy needs, will provide a platform to collaborate on addressing the identified gaps through a common and agreed approach.
“24 countries have signed the Framework Agreement of ISA after it was opened for signature on November 15, 2016. ISA is expected to become inter-governmental treaty-based organization that will be registered under Article 102 of the UN charter after 15 countries ratify the Agreement.
“With legal framework in place, ISA will be a major international body headquartered in India,” it said.The Survey further noted that currently, India’s renewable energy sector is undergoing transformation with a target of 175 GW of renewable energy capacity to be reached by 2022.
In order to achieve the target, the major programmes on implementation of Solar Park, Solar Defence Scheme, Solar scheme for Central Public Sector Undertakings, Solar photovoltaic (SPV) power plants on canal bank and canal tops, solar pump, solar rooftop among others have been launched in recent years.
“A capacity addition of 14.30 GW of renewable energy has been reported during the last two and half years under Grid Connected Renewable Power, which include 5.8 GW from Solar Power, 7.04 GW from Wind Power, 0.53 GW from Small Hydro Power and 0.93 GW from Bio-power,” it said. As on October 31, 2016, India achieved 46.3 GW grid-interactive power capacity, 7.5 GW of grid-connected power generation capacity in renewable energy, and small hydro power capacity of 4.3 GW.
In addition, 92,305 solar pumps were installed and Rs 38,000 crore worth of Green Energy Corridor is being set up to ensure evacuation of renewable energy.
(With agency inputs)
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