India refutes Crisil, says will achieve renewable energy target by 2022

Renewable energy
India to achieve renewable energy target of 1,75,000 MW by 2022

New Delhi: Refuting all the claims cited in a CRISIL report, the Ministry of New and Renewable Energy (MNRE) has exuded confidence that India will achieve renewable energy target of 1,75,000 MW by 2022, stating, “Ministry is not only confident of meeting 1,75,000 MW target but exceeding it by 2022.”

“By the end of September 2019, India has installed more than 82,580 MW of renewable energy capacity with around 31,150 MW of capacity under various stages of installation. Thus, by the first quarter of 2021, India would have installed more than 1,13,000 MW of renewable power capacity, the statement added.

“Renewable energy has emerged as a true multi-benefit system, combining ecological necessities with domestic priorities, economic and job creation opportunities. If large hydro included, India stands third in renewable power capacity globally,” said MNRE in a statement.

It further added, “This would constitute nearly 65 per cent of the targeted capacity. 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. With only 23,000 MW of renewable power capacity left to bid, India is confident that the target of installing 1,75,000 MW of renewable power capacity will not only be met but exceeded.”

Since March 2014, India’s renewable power capacity has increased from 34000 MW to 82,580 MW recording 138 per cent growth. Globally, India stands 5th in solar power, 4th in wind power, and 4th in total renewable power installed capacity.

MNRE slams CRISIL report which says, “India may fall short of its declared renewable energy target of 1,75,000 MW by the year 2022.”

The statement said, “The CRISIL report being referred to by the media is neither factually correct nor takes into account initiatives taken by the Ministry of New and Renewable Energy to facilitate accelerated development and deployment of renewable energy in the country. This lacks in all respects as CRISIL did not even bother to consult this Ministry for its views.”

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