India misses renewable energy target of 2012-13 by nearly 1000 MW

By Editor


Greentech Lead India: The Government of India has achieved 3163 MW grid connected capacity and 147 MW off-grid capacity during 2012-13 against the actual target of 4125 MW grid connected capacity and 126 MW off-grid applications.

The Government has allocated Rs.1521 crore (nearly $280 million) during 2013-14 for the development and promotion of renewable energy activities, in comparison to GBS of Rs. 1385 crore ($260 million) and revised estimates of Rs. 1150 crore ($210 million) during 2012-13.

An expenditure of Rs.1106.79 crore was incurred by Ministry of New and Renewable Energy (MNRE) for development and promotion of renewable energy sources, which is about 80 percent of the GBS and over 96 percent of the revised estimates for the year 2012-13.

The Government’s allocation on renewable energy in India is nearly 1 percent of the global investment in renewable energy. According to Greenpeace  global investment in the renewable energy sector in 2012 was close to $270 billion, which has been growing substantially despite global policy setbacks.

The total installed capacity of power generation from renewable energy sources in India is 28,067 MW.

Tamil Nadu accounts for the greatest share with 7849 MW installed capacity, followed by Maharashtra (4188 MW), Gujarat (4079 MW), Karnataka (3605 MW), Rajasthan (3353 MW) and Andhra Pradesh (1114 MW).

The Government is promoting renewable energy through various schemes like generation based incentives and viable gap funding (VGF). The VGF is available to large size solar power projects under Batch-1 of Phase-II of Jawaharlal Nehru National Solar Mission (JNNSM).

Under the VGF proposal, solar PV projects of total 750 MW capacity will be set up on Build-Own-Operate basis, with minimum project capacity of 10 MW. Tariff for power purchase is available @ Rs.5.45/ unit fixed for 25 years. VGF supports up to 30 percent of project cost or Rs.2.5 crore/ MW whichever is less, based on bids. Developer’s equity contribution will be at least Rs.1.5 crore/MW. The balance amount can be raised as loan from any source.

JNNSM Phase-II will run from April, 2013– March, 2017 comprising of 3,000 MW under Central schemes and 6,000 MW under States own initiatives/ market mechanisms of Solar Renewable Purchase Obligations (RPOs)/ Renewable Energy Certificates (RECs).

The government is also supporting the renewable energy sector by bundling with thermal power in different proportions depending on availability of unallocated quota of thermal power allocation of funds from different sources.

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