New Delhi (NVI): A cumulative renewable energy capacity of 83.38 GW against the 2022 target of 175 GW has been installed in the country as on October 31 2019, Lok Sabha was informed today.
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.
The 83.38 GW of renewable energy capacity installed in the country as on October 31 includes 31.69 GW from solar, 37.09 GW from wind, 9.95 GW from Biomass and 4.65 GW from Small Hydro, Union Minister of State (IC) New & Renewable Energy, Power and Skill Development and Entrepreneurship R.K. Singh said in a written reply.
In an effort to increase the deployment of renewable energy in the country, the Government of India have put in place various policies and initiatives such as accelerated depreciations, 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, he said.
Government have also issued standard bidding guidelines to enable the distribution licensees to procure power at competitive rates in cost effective manner.
-sb
