In line with the Prime Minister’s announcement at COP26, Ministry of New and Renewable Energy is working towards achieving 500 GW of installed electricity capacity from non-fossil sources by 2030, and achieving Net Zero by 2070.
A total of 172.72 GW capacity from non-fossil fuel based energy resources has been installed in the country as on 31.10.2022. This includes 119.09 GW Renewable Energy, 46.85 GW Large Hydro and 6.78 GW Nuclear Power capacity. This constitutes a share of 42.26% of total installed generation capacity in the country i.e. 408.71 GW as on 31.10.2022.
Further, Central Electricity Authority (CEA) has carried out generation expansion studies with the projected All India peak electricity demand and electrical energy requirement of 325 GW and 2256 BU respectively for the year 2029-30 (as per the draft 20th EPS projections). Study reveals that the share of RE based installed capacity (including Large Hydro) in the capacity mix is likely to increase to around 480 GW by 2029-30. The share of RE (including Large Hydro) in the generation mix of the country, which stands at around 22% as of March, 2022 is likely to increase to around 41% by 2029-30.
Government has taken several steps towards achievement of 500 GW installed capacity from non-fossil sources which, inter-alia, include:
- Permitting Foreign Direct Investment (FDI) up to 100 percent under the automatic route,
- Waiver of Inter State Transmission System (ISTS) charges for inter-state sale of solar and wind power for projects to be commissioned by 30th June 2025,
- Declaration of trajectory for Renewable Purchase Obligation (RPO) up to the year 2029-30,
- Setting up of Ultra Mega Renewable Energy Parks to provide land and transmission to RE developers for installation of RE projects at large scale,
- Schemes such as Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM-KUSUM), Solar Rooftop Phase II, 12000 MW CPSU Scheme Phase II, etc,
- Laying of new transmission lines and creating new sub-station capacity under the Green Energy Corridor Scheme for evacuation of renewable power,
- Notification of standards for deployment of solar photovoltaic system/devices,
- Setting up of Project Development Cell for attracting and facilitating investments,
- Standard Bidding Guidelines for tariff based competitive bidding process for procurement of Power from Grid Connected Solar PV and Wind Projects.
- Government has issued orders that power shall be dispatched against Letter of Credit (LC) or advance payment to ensure timely payment by distribution licensees to RE generators.
- Notification of Promoting Renewable Energy through Green Energy Open Access Rules 2022.
- Notification of “The electricity (Late Payment Surcharge and related matters) Rules (LPS rules).
- Launch of Green Term Ahead Market (GTAM) to facilitate sale of Renewable Energy Power through exchanges.
This information was given by Shri R.K Singh, Union Minister for Power and New and Renewable Energy in a written reply in Rajya Sabha today.
