“We achieve 100 GW solar energy target in 2022 by adding 67 GW of power,”
he said while pointing out the sharp fall in the prices of solar energy due to enhancement of capacity.
“We are attending to win a hundred GW alternative energy target in 2022 by adding 100 GW of power,
” he aforementioned whereas remarking the sharp fall within the costs of alternative energy thanks to the sweetening of capability.
“Solar energy used to cost Rs 20 per unit. Now, it’s only about 10 % of it,
” mr. Javadekar told Asian News Service on the sidelines of the United Nations Climate Change Conference before the second and final talk. To enter the week. We achieve 100 GW solar energy target in 2022.
Also Read: Top 10 solar companies in India 2020
India and France jointly launched the International Solar.
Urging the world to do away with fossil fuels, Javadekar said: “We have today 37 percent energy capacity through renewables.
We want to increase it because our energy demand is rising so we have decided to have 40 percent of energy capacity through renewal energy i.e. a mix of solar, wind and bio-waste.”
After a couple of good years, things have started to look solemn for India’s solar power sector. There has been a huge slump in capacity addition in the
past two years from 9.4 gigawatts GW in 2017-18 to 6.5 GW in 2018-19 and just 2.9 GW in the first half of 2019-20.
Of the country’s target of installing 175 GW renewables capacity by 2022, solar energy has the biggest chunk of 100 GW.
Since 2015, when the Union Ministry of New and Renewable Energy (MNRE) announced its renewables target, the sector did quite well.
India has installed 31 GW of solar capacity,
17 GW is under construction and tenders have been called for 35 GW. However, the sector has seen a decline in recent months. Electricity distribution companies, mostly owned by state governments,
have been delaying payments to plants supplying solar power.
As of July 2019, owed Rs 9,736 crore to solar power producers in the country, with Andhra Pradesh, Tamil Nadu, Telangana and Karnataka accounting for 75 percent of the dues.
Hare Delhi Future Energies, said CEO and executive director Sunil Jain, “If we do not pay for electricity, which will increase the bank loans of existing capital operating plants.
Also Read: Renewable Energy: Special focus on Bioenergy
The delay has had a major impact on investor sentiment. Public and private sector banks to are reluctant to lend.
Mr. Jain claimed, “banks are not in a mood to give money, Indian Renewable Energy Development Agency Ltd and Power Finance Corporation is not conducive to borrow from such union-owned financial institutions and tough foreign funds under the existing rules. “
Overall, the large-scale solar sector requires Rs 1,20,000 crore investment to meet its 60 GW large-scale capacity installment.
(Remainder to be completed by rooftop installations to 40 GW.)”We are going to achieve 100 GW solar energy target in 2022″