India to Achieve a New Milestone in Renewable Energy

Christopher Zenios02/12/20192min
India will reach 200 gigawatts of renewable energy capacity operational by the year 2022 according to Minister of New and Renewable Energy.

Minister RK Singh recently stated in a meeting between other ministers of energy that India would achieve 200 gigawatts of operational green energy capacity by 2022. So far the nation has already 128 gigawatts in operation which means they are ahead of schedule.

Currently, there are 31 gigawatts of capacity being executed, 35 gigawatts of capacity will be auctioned and another 13 gigawatts of hydropower that are under construction, which means that the Indian government is confident that the renewable energy capacity will surpass 200 gigawatts by late 2022.

RK Singh wanted to make it clear about these facts, after doubts were raised by CRISIL, a rating agency, about India not being able to reach their initial objective of 175-gigawatt capacity by early 2022. The agency argued that they would reach 104 gigawatts and miss their target by 42%. Furthermore, renegotiations of renewable energy tariffs and delayed payments to developers also threatened the progress towards the initial objective.

According to the Ministry of New and Renewable Energy, the report

“is neither factually correct nor takes into account initiatives taken by the MNRE to facilitate accelerated development and deployment of renewable energy in the country … doubts are ill-founded and not reflective of the status on the ground and plans ahead.”

CRYSIL did not take into consideration the 45 gigawatts of hydropower capacity currently in operation. And if these are included then renewable capacity is increased to 130 gigawatts, which is only 25% short of the target of 175 gigawatts.

Even though doubts persist from rating agencies, the MNRE remain consistent and feel they will overachieve on the set target and 200 gigawatts by 2022 objective.

Christopher Zenios

Christopher has always been a pioneer, a first adopter when it comes to technological advancements. Over the years, his expertise surrounded the real estate and digital markets and their evolution in today's society. After being the editor to various professional business news portals and blogs, he was selected to become the chief editor for HWC. Contact Christopher at +357-22029786 ext: 6110 or by email at [email protected] for editorial related questions.

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