(a) whether the Government has formulated action plan to reach the targets of proposed 175 GW Renewable Energy objectives;
(b) if so, the details thereof; and
(c) the measures being taken by the Government to achieve them?
(a) whether the Government has formulated action plan to reach the targets of proposed 175 GW Renewable Energy objectives;
(b) if so, the details thereof; and
(c) the measures being taken by the Government to achieve them?
THE MINISTER OF STATE (I/C) FOR NEW & RENEWABLE ENERGY, POWER and MoS for SKILL DEVELOPMENT AND ENTREPRENEURSHIP
(SHRI R.K. SINGH)
(a) & (b) The Government has set a target of installing 175 GW renewable energy capacity, excluding large hydro, in the country by 2022. Against this target, as on 31st August 2020, a cumulative renewable energy capacity of 88.79 GW has been installed and a capacity of 45.11 GW is under various stages of implementation. 28.43 GW capacity is under various stages of bidding.
(c) The measures being taken by the Government to achieve the target, of renewable energy, inter-alia , include:
• Permitting Foreign Direct Investment (FDI) up to 100 percent under the automatic route,
• fiscal and financial incentives such as Capital Subsidy, Viability Gap Funding (VGF), Accelerated Depreciation benefits etc,
• raising funds from bilateral and multilateral financial institutions,
• mandating requirement of Letter of Credit (LC) as payment security mechanism by distribution licensees for ensuring timely payments to RE generators,
• setting of Solar Parks to provide land and transmission on plug and play basis,
• waiver of Inter State Transmission System (ISTS) charges and losses for inter-state sale of solar and wind power for projects to be commissioned by 30th June 2023,
• notification of standard bidding guidelines to enable distribution licensee to procure solar and wind power at competitive rates,
• declaration of trajectory for Renewable Purchase Obligation (RPO) up to the year 2022,
• laying of transmission lines under Green Energy Corridor Scheme for evacuation of power in renewable rich areas,
• setting up of Project Development Cell for attracting and facilitating investments in domestic manufacturing.
• Loan limits for renewable energy have been increased (doubled) as per RBI’s revised priority sector lending guidelines.
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