Another landmark day in the history of the Indian Power Sector as the installed Renewable Energy capacity (excluding large Hydro) has crossed 1,00,000 Megawatts.
India’s renewable energy capacity has crossed 100 gigawatts, an important milestone indeed. The power generation capacity of India is 383.73 GW. The country’s green energy trajectory has been on an upswing and at the same time, calling out nations on their carbon-neutral intent announcements, it has been resisting the pressure of declaring a net-zero emission goal.
The government said in a statement, “Today India stands at 4th position in the world in terms of installed RE capacity, 5th in solar, and 4th in the wind in terms of installed capacity,” the statement added.
“Another landmark day in the history of the Indian Power Sector. Our installed Renewable Energy capacity (excluding large Hydro) has crossed 1,00,000 Megawatts. Under the visionary leadership of PM @narendramodi Ji, we shall continue to be global leaders in Energy Transition,” Union power and new and renewable energy minister Raj Kumar Singh said in a tweet.
Today India stands at 4th position in the world in terms of installed RE capacity, 5th in solar, and 4th in the wind in terms of installed capacity
The statement said while 100 GW has been installed, 50 GW is under installation, and 27 GW is under tendering.
According to a Parliamentary report released in March, India needs ₹2,61,000 crore more to fund the balance energy capacity and achieve the target of 175 GW by 2022. The report said since the Indian Renewable Energy Development Agency (IREDA) is the only dedicated public sector financial institution for financing renewable energy projects, it must gear up to take up the extra responsibility.
The report asked the ministry of new and renewable energy to mobilise “more long-term financing.”