PIB News Update:Union Minister of State (IC) New & Renewable Energy, Power and Skill Development and Entrepreneurship Shri R.K. Singh has informed that To increase the deployment of renewable energy in the country, the Government of India have put in place various policies/initiatives for promotion of renewable energy. These initiatives include incentives such as accelerated depreciations, waiver of Inter State Transmission System (ISTS) charges and losses, viability gap funding (VGF) and permitting Foreign Direct Investment up to 100 per cent under the automatic route. Renewable Energy Projects are awarded through transparent bidding process. Government have also issued standard bidding guidelines to enable the distribution licensees to procure power at competitive rates in cost effective manner.
A cumulative renewable energy capacity of 83.38 GW has been installed in the country as on 31/10/2019. The state-wise and source-wise detail of installed capacity is given in Annexure-II.
The Government has set a target of installing 175 GW of renewable energy capacity by the year 2022 which includes 100 GW from solar, 60 GW from wind, 10 GW from Biomass and 5 GW from Small Hydro. A total of 83.38 GW of renewable energy capacity has been installed in the country as on 31/10/2019 which includes 31.69 GW from solar, 37.09 GW from wind, 9.95 GW from Biomass and 4.65 GW from Small Hydro.