Govt set to add 50 gw to power generation target
New Delhi: The government will add 50 GW to its 'power generation target'. While addressing the media persons here on Tuesday, power minister RK Singh mentioned, "India hopes to touch renewable power capacity of 225 GW by March 2022, where we will cross the target of 175 GW of renewable energy before that."
Currently, India has an installed capacity of over 70 GW, up from 34 GW in December 2014. The minister also called the achievements in 48 months as an 'eye opener'. "What did not happen in the last 48 years, this government has done in 48 months. We added 24,000 MW power generation capacity per year compared to 4,800 MW of earlier governments," Singh asserted.
He further said that 1 lakh MW of power generation capacity and 1 lakh circuit KM of interstate transmission capacity has been added in the last four years. Besides, 25,000 circuit Km transmission capacity was added per year compared to 3,400 ckm during the previous governments.
During the press conference, two short films were also shown. Later, in an official statement, the ministry further claimed that India's renewable energy sector attracted investments of over $42 billion over the past four years and green energy projects have created over 10 million man-days of employment per annum over the period. "New opportunities have emerged. Altogether new business space has been created. Indian companies have begun to explore foreign stock exchanges as a source of funds. India is progressively becoming a most-favoured destination for investment in renewable. Foreign investors can enter into joint venture with an Indian partner for collaboration and setting up renewable energy-based power generation projects," it added.
The power minister also said that 100 percent foreign investment as equity qualifies for automatic approval and the government is also encouraging foreign Investors to set up renewable energy-based power generation projects on the build-own-operate basis.
He further asserted that all the 4 crore families would have power connection by December this year as against the March 2019 deadline under SAUBHAGYA scheme and the government is with talks with the state stakeholders and DISCOMs representatives.
On Tuesday morning Haryana Chief Minister Manohar Lal Khattar met Singh here to discuss the current status of the power sector in the state and the UP counterparts will meet him tomorrow here.
Meanwhile, the MNRE Secretary Anand Kumar announced the trajectory of bids over the next couple of years, saying that "trajectories for bidding 115 GW renewable power projects up to March 2020 have been announced and the country is well on track to achieving 175 GW target of installed renewable energy capacity and trends suggest that the target will not only be achieved but exceeded.
Besides, the power minister also admitted that there is severe logistics crisis. "The manufacturing capacity is limited; there is also a manpower shortage. So I spoke to the Skill Development minister Dharmendra Pradhan, seeking his ministry's support with skilled manpower," the power minister mentioned. He further said that the power loss has gone down to 18.9 percent now across the country.