India has set an ambitious target of having 500 GW of renewable energy capacity by 2030, for which Bhalla said the government has decided to award 50 GW of renewable energy projects every year starting FY 2024.
By April 2026, India will have 48 gigawatts (GW) of annual production capacity of “Made in India” solar photovoltaic (PV) modules and will touch 100 GW by the end of 2026, the Ministry of New and Renewable Energy (MNRE) Secretary BS Bhalla said on April 3.
Speaking at a side event of the second Energy Transitions Working Group Meeting (ETWG) under India’s G20 Presidency, Bhalla said India currently already has about 22.4 GW of module manufacturing. “We are targeting 48 GW annual solar PV manufacturing by April, 2026. So, the existing 22.4 GW plus 48 GW and plus many other capacities are coming up. Those who have won the PLIs, they are saying the manufacturing scope is much more. For example, when we awarded the polysilicon capacity to a company, they said that the minimum viability is 10 GW. So, they are manufacturing 10 GW even if the PLI is 4 GW,” he said.
50 GW renewable capacity addition every year
India has set an ambitious target of having 500 GW of renewable energy capacity by 2030, for which Bhalla said the government has decided to award 50 GW of renewable energy projects every year starting FY 2024. He acknowledged that by until now, the country has managed to add a maximum of about 15 GW annually.
Moneycontrol also has a copy of an office memorandum issued by the MNRE on March 31. It stated that as on February, 2023, India’s renewable energy (RE) installed capacity stands 168.96 GW, with 82.62 GW under implementation and 40.89 GW under tendering process.
“Bids for RE capacity of 50 GW per annum, with at least 10 GW per annum of wind energy capacity, are to be issued each year from financial Year (FY) 2023-24 to FY 2027-28,” according to the memorandum.
Based on the trajectory issued by the MNRE on March 31, the government will issue tenders to install 15 GW of renewable energy capacity each in the first two quarters of this fiscal year, ending March 2024, followed by bids for 10 GW in the next two quarters.
Global biofuels alliance in the anvil
The second Energy Transitions Working Group Meeting (ETWG) under India’s G20 Presidency concluded in Gandhinagar, on April 3. The two-day meeting saw the participation of over 100 delegates from G20 member countries, 10 special invitee countries and 14 International Organisations.
“The proposed formation of Global Biofuels Alliance received wide-ranging support from member countries. The other key point of discussion was low-cost financing for energy transition, where member countries discussed about important role of international financial structure including raising the ambitions of multilateral financial institutions and the importance of coordinating actions with Sustainable Finance Working Group, initiated under India’s G20 Presidency,” read a statement issued by the power ministry on April 3.
Member countries also reaffirmed their commitment to energy transition through addressing technology gaps, and there was broad consensus amongst members to align with other global organisations such as Clean Energy Ministerial (CEM), Mission Innovation (MI) and RD20 to achieve tangible outcomes. “Protecting intellectual property rights in the context of technology transfer was also emphasized. It was also agreed to continue with a focus on deployment of clean mature technologies such as Solar PV and Offshore Wind,” it said.
Source: PTI
