Installed renewable power generation capacity has gained pace over the past few years, posting a CAGR of 17.33% between FY16–20. The government is aiming to achieve 225 GW of renewable energy capacity (including 114 GW of solar capacity addition and 67 GW of wind power capacity) by 2022, more than its 175 GW target as per the Paris Agreement. The government plans to establish a renewable energy capacity of 500 GW by 2030.
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Renew able meeting expectations and facing challenges
1. RENEW- ABLE?
Meeting Expectations
And Facing
Challenges.
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The Ministry of New and Renewable Energy, under the
supervision of the Government of India, has outlined an
action plan to achieve a total capacity of 60 GW from hydro
power and 227 GW from other RES by March 2022; this
includes
o 114 GW from solar power,
o 67 GW from wind power,
o 10 GW from biomass power
o 5 GW from small hydro power
The Government plans to establish renewable energy
capacity of 500 GW by 2030.
As India looks to meet its energy demand on its own, which is
expected to reach 15,820 TWH by 2040, renewable energy is
set to play an important role. By 2030, renewable sources are
expected to help meet 40% of India’s power needs.
India’s renewable energy space has become very attractive
from investors’ perspective as it received FDI inflow of US$
9.22 billion between April 2000 and March 2020.
2. Renewable Energy
Opportunities in India
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According to the data released by Department
for Promotion of Industry and Internal Trade
(DPIIT), FDI inflow in the Indian non-
conventional energy sector stood at US$ 9.22
billion between April 2000 and March 2020.
More than US$ 42 billion has been invested in
India’s renewable energy sector since 2014. New
investment in clean energy in the country
reached US$ 11.1 billion in 2018.
Wind-Solar
Hybrid
Off Shore
Wind
Solar
3. Here is the current snapshot of the Sector
Up to 100% FDI is provisions of The Electricity Act, 20allowed under the automatic route for renewable energy generation and
distribution projects subject to 03.
11/13/2020 3
Key Facts
and Figures
137%
Increase in
renewable installed
capacity (FY 2013-
14 to FY 2018-19)
1,000+ GW
Renewable
energy potential
in India
.
89 GW
Installed
renewable energy
capacity (as of
August 2019)
.
$ 9.6 bn
FDI inflows in non
conventional energy
sector during April
2000 to June 2020
.
4. Current Focus Areas
GOI has Identified Key Target Sub-Sectors
11/13/2020 4
Wind-Solar
Hybrid
Off Shore
Wind
Solar
50 Solar Parks of 40 GW by
2022. 47 Solar Parks of 23+
GW already sanctioned
300 GW floating solar PV
potential, development plan for
10 GW by 2021 sanctioned
National Offshore Wind Policy
released to tap potential along
India’s 7600 Km coastline.
National Institute of Wind
Energy has released 1 GW
Expression of Interest
SECI and World Bank investing
USD 400 Mn for Solar-Wind
Hybrid, Floating PV, Solar with
Storage among other projects
First-of-its kind National Wind-
Solar Hybrid Policy released in
May 2018
5. What is Going On?
Need for more stakeholder engagement? Will this create more adherence?
11/13/2020 5
BA
DC
E
Stakeholders
Ministry of New and
Renewable Energy
Indian Solar
Manufacturers
Association
(ISMA)
Solar Energy
Corporation of
India (SECI)
National
Institute of
Solar Energy
(NISE)
National
Institute of
Wind Energy
(NIWE)
Indian Wind
Power
Association
(IWPA)
Indian Wind
Energy
Association
(IWEA)
India Energy
Storage
Alliance
(IESA)
Skill Council for
Green Jobs
Manufacturers
& Investors
Financial
Institutions
Consumers/ Implementors/
Beneficiary
Legal
Institutions
State/Local
Governments
6. What is Going On?
Key Challenges in the Current Scenario
11/13/2020 6
1 3
2 4
0
1
0
2
0
3
0
4
Low investor sentiment due
to delayed or non-payment
by discoms to clean energy
developers
Land for renewable projects
is another key challenge
Energy storage technologies
provide flexibility in the use
of electricity, for both
centralised and
decentralised supply
provisions.
Ambiguity over goods and
services tax (GST),
safeguard duty on imported
solar panels and lack of
funding..