7591.99 MW of Renewable Energy commissioned in 2019-20): R K Singh

The Minister of State (I/C) For New and Renewable Energy, Power and MoS for Skill Development and Entrepreneurship Shri R K Singh informed the Rajya Sabha today while replying to a question during question hour that a renewable energy (RE) capacity of 7591.99 MW has been commissioned in the year 2019-20 (up to Dec 2019). He added that another 34160 MW RE capacity is under various stages of implementation. It is expected that renewable energy capacity addition in the year 2019-20 will exceed the capacity addition achieved in the year 2018-19 which was 8532.22 MW.

Shri Singh also said that most of the grid connected renewable energy projects in the country are being implemented by the private sector developers selected through a transparent competitive bidding process. Capital investment made by these developers is their privileged information. However, based on standard capital costs per MW, an investment of 40459.99 Cr is estimated to have been made in Renewable Energy sector in the year 2018-19. An investment of 36729.49 Cr is estimated to have been made in the year 2019-20 up to Dec 2019.

Elaborating the steps being taken by the Government to boost investment in RE sector, the Minister stated that these include permitting Foreign Direct Investment (FDI) up to 100 percent under the automatic route, strengthening of Power Purchase Agreements (PPAs), mandating requirement of Letter of Credit (LC) as payment security mechanism by distribution licensees for ensuring timely payments to RE generators, setting up of Ultra Mega Renewable Energy Parks(UMREPs) to provide land and transmission on plug and play basis to investors, waiver of Inter State Transmission System (ISTS) charges and losses for inter-state sale of solar and wind power for projects to be commissioned by 31st December, 2022, notification of standard bidding guidelines to enable distribution licensee to procure solar and wind power at competitive rates in cost effective manner, declaration of trajectory for Renewable Purchase Obligation (RPO) up to the year 2022, laying of transmission lines under Green Energy Corridor Scheme for evacuation of Power in Renewable rich states, finalisation of manufacturing linked tender for setting up domestic manufacturing capacity, launching of new schemes, such as, Pradhan Mantri Kisan Urja Suraksha Evam Utthaan Mahabhiyan (PM-KUSUM), Solar Rooftop Phase II, 12000 MW CPSU Scheme Phase II, etc.

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