India has reiterated its medium-term targets for renewable energy installed capacity. The targets, up to 2030, will result in a 40% share of renewable energy capacity in the overall power generation in India.
A high-ranking official at the Ministry of New and Renewable Energy (MNRE) recently stated that India will target an installed capacity of 500 gigawatts across all renewable energy technologies by 2030. The installed capacity target for the overall power sector is 850 gigawatts by the same year. This translates in a share of around 59% for renewable energy technologies in the installed capacity base, up from the current 22%.
The share could very well inch slightly higher if the Indian government classifies large hydro power projects as renewable energy projects. At present, hydro power projects with installed capacity of more than 25 megawatts are not considered as renewable energy projects in India. The Standing Committee on Energy of the Indian national legislature has strongly recommended this classification. According to a recent report issued by the committee, the matter is currently being discussed by an inter-ministerial group.
If all hydro power projects are indeed reclassified as renewable energy projects, the total renewable energy capacity would likely go up to 575 gigawatts by the end of the next decade, translating into a share of almost 72% of the total installed capacity base.
The 500 gigawatt target has been divided into 350 gigawatts of solar, 140 gigawatts of wind, and 10 gigawatts of other technologies. This medium-term target has a crucial short-term milestone in 2022. India plans to have 100 gigawatts solar, 60 gigawatts of wind, and 15 gigawatts of other renewable energy capacity operational by 31 March 2022. Auctions to ensure that this target is met on time shall be concluded by 31 March 2020.
The balance of 325 gigawatts renewable energy capacity will be auctioned in the eight years between 2020 and 2028. This will include the auction of 250 gigawatts of solar, 70 gigawatts of wind, and 5 gigawatts of other renewable energy technologies. The wind energy capacity would also likely include 30 gigawatts of offshore wind energy capacity. India will thus, auction 30 gigawatts of solar power and 10 gigawatts of wind energy capacity every year during the eight years. A similar timeline has been announced by the MNRE for auctions until March 2020.
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