Banks, FIs have given Rs 1.08 trillion for renewable energy: Piyush Goyal
Banks and financial institutions have sanctioned funding of Rs 1.08 lakh crore for renewable energy capacities of 42.71 GW since February 2015, Union Minister Piyush Goyal said on Thursday. Banks and financial institutions have committed total funding of Rs 3.82 lakh crore for 76.35 GW of renewable energy capacities in the country.
“23 public sector & 7 private sector banks and 4 public sector & 2 private sector non-banking financing companies have committed for financing renewable energy projects of 76,352 MW capacity with an outlay of Rs 3,82,255 crore through Green Commitment Certificates during REINVEST 2015 held in February, 2015,” New & Renewable Energy Minister Piyush Goyal said in a written reply to the Lok Sabha today.
He further stated, “These Banks and Financial Institutions (FIs) have supported projects of 42717 MW capacity with sanctioned and released amount of Rs 108,682.20 crores and Rs 50,157.94 crores respectively, as on September 30, 2016 after giving the commitments which is about 27.57 per cent of the commitment made.” The minister told the House that the ministry has estimated an investment opportunity of about Rs 9 lakh crore both in manufacturing, project development and requisite transmission infrastructure during the next five years for achieving the enhanced capacity addition target of 175 GW in the renewable energy sector.
He also said that to achieve grid parity, long term finance at lower rates is required.
Efforts are being made to mobilise additional funds for the renewable energy sector through National Investment Infrastructure Fund (NIIF) created by Government of India and also from multilateral & bilateral banks such as - The World Bank, Asian Development Bank, National Development Bank and KfW, he added.
In reply he told the House, “Government of India has set up NIIF in August 2015, which is an umbrella fund for development of infrastructure in the country. A dedicated sub-fund of USD two billion under this fund will be for clean energy. The funds will be used for deployment in equity and related products for renewable energy projects.”
Nation recorded overall power deficit of 0.7% in first 7 months of FY17
India recorded overall power deficit of 0.7 per cent in the first 7 months of the current fiscal, with availability of 681.34 billion units, as against demand of 686.09 BU, Parliament was informed on Thursday.
The government has planned to make the country energy surplus with generating target of 1,178 billion units to achieve overall electricity surplus of 1.1 per cent in 2016-17.
According to the Load Generation Balance Report (LGBR) for 2016-17, the Centre has set a target of generating 1,178 billion units with overall surplus of 1.1 per cent and peak surplus of 2.6 per cent.
In a written reply to the Lok Sabha today, Power Minister Piyush Goyal stated that 681.34 BU were available against the power demand of 686.09 BU during the April-October period this fiscal recording a deficit of 0.7 per cent. In 2015-16, this deficit was 2.1 per cent.
Similarly, he further stated that against the peak power requirement of 1.59 GW, as much as 1.56 MW was available in April-October period, resulting in peak power deficit of 1.6 per cent. Last fiscal, peak power deficit was 3.2 per cent.
In another reply to the House, Goyal stated that during 2016-17 (April to October), 568.85 BU of thermal power was produced in the country.
He further stated that the average Plant Load Factor (PLF or proportion of capacity utilisation) of thermal power plants (coal/lignite) during 2016-17 (April October, 2016) was 59.17 per cent and the PLF for gas based power plants during 2016-17 (April October, 2016) was 23.59 per cent.
Listing the step taken by government to boost electricity generation for making India power surplus, the minster said: “During the 12th Plan period (2012-17), a capacity addition of about 88928.2 MW against the target of 88537 MW from conventional sources have been achieved till October 31, 2016 and about 21,128 MW against the target of 30000 MW from renewable sources have been achieved till September 30, 2016.”
He also said that the growth of domestic coal supply to power plants has been around 6.2 per cent during 2015-16.