India can not only meet its target of installing 175 gigawatts of renewable energy capacity by 2022, but also surpass it, said a top government official. “This, you will all agree, is a fairly ambitious target. With advancements in technology and with price of solar and wind (power) reducing, we are confident that we will exceed the target, said Anand Kumar, secretary of Ministry of New and Renewable Energy. In the next five years, the government plans to scale up the solar capacity to 100 gigawatts under the National Solar Mission. India added 7.5 gigawatts in the last four quarters, taking up the total solar capacity to 16.2 gigawatts, according to consultancy firm Bridge to India.
“The key challenge is how should we enable higher energy consumption in India, at a cost people are willing to pay,” said Kumar on the sidelines of Renewable Energy India Expo on Wednesday. He said the ministry wants to bring large hydroelectric projects under the definition of renewable energy. “We are exploring the possibility to exploit offshore wind potential,” he said. The target for wind energy has been kept at 60 gigawatts. A policy that will make it mandatory for power plants to generate a certain portion of their output from renewables is also being considered, said Kumar. On the fears expressed by producers against the backdrop of distributors scrapping or renegotiating power purchase agreements due to falling electricity prices, the official said the ministry has directed the states to abide by the provisions of the contracts. Kumar said there is a need to focus on solar manufacturing. “We should set up manufacturing bases for batteries in India. Once we overcome the obstacle of storage, then the idea of 24-hour free energy for the people can be realised.”
Source:Bloomberg
