India Rapidly Progresses Towards Renewable Energy, says R K Singh

“India is making quick progression in the field of renewable energy and the government is committed to achieving the said target by 2022,” said Minister of Power and New Renewable Energy (MNRE), R K Singh.

India’s set target of touching 175 GW of renewable energy capacity addition has already seen the accomplishment of 70 GW project capacity whereas additional 38 GW will be implemented soon.

As per the data available till 31th March Indian growth rate figures are showing healthy trend.

“India is making quick progression in the field of renewable energy and the government is committed to achieving the said target by 2022,” said Minister of Power and New Renewable Energy (MNRE), R K Singh.

A statement released by the ministry said “By end of last year 108,000 MW was either installed or was under the process of implementation.”

In 2017 the tariffs of wind and solar energy fell to record low. The competitive bidding reduced the rates to Rs 2.43 and Rs 2.24 per unit, which is way too cheaper that thermally generated power.

Further, the government claimed that India added over 11 GW of renewable energy capacity in the year 2017-18, the highest ever in a single year.

In a confidence boosting measure to clean energy players in the country the government set a clear target of bidding till the year 2020.