India needs to invest $76 bn to meet balance renewable energy target of 103.67 Gw: RK Singh

30th july 2018

India needs an investment of around $76 bn to achieve the balance 103.67 Gigawatt (Gw) of the target of 175 Gw renewable energy capacity by 2020, power and renewable energy minister R K Singh said.

India had an installed renewable energy capacity base of 69.78 Gw at the end of March 2018.

“To achieve the balance target of 103.67 Gw, investment of around $76 billion has been estimated at present capital cost which includes $53.20 billion as debt and $22.80 billion as equity for the debt-equity ratio of 70:30 as per Central Electricity Regulatory Commission (CERC) norms,” Singh said in a written reply in Rajya Sabha.

The current installed capacity of renewables includes around 34,145 Mw of wind, 21,651 Mw of solar, 4,486 Mw of small hydro and 9,502 Mw of biomass based power capacity.

The overall target of installing 175 Gw of renewable energy capacity includes 100 Gw solar, 60 Gw wind, 10 Gw biomass and 5 Gw of small hydro capacity.

India added 11,322 Mw of green energy generation capacity in 2016-17 and 11,887 Mw in 2017-18. Solar tariffs dropped to the lowest level of Rs 2.44 per unit in reverse auction carried out by Solar Energy Corporation of India (SECI) in May 2017 for 200 Mw and for 600 Mw in July 2018.

Source: ETENERGYWORLD