India on track to achieve 175 GW of renewable energy by 2022: R K Singh

Power and New & Renewable Energy Minister R K Singh on Tuesday exuded confidence that India will achieve 175GW of renewable energy target by 2022.

"The target of having 175 GW of renewable energy by 2022 looks huge. But, today we have established 83 GW clean energy. About 29 GW of renewable energy is under installation. That makes it 112GW and under about 30GW is under bid. So that makes the 175GW of renewables. I am very confident that we would make it (175GW of renewables by 2022)," Singh during a ministerial panel discussion at Indian Energy Forum said here.

He also spoke about Prime Minister Narendra Modi's recent announcement that India will have 450GW of renewables by 2030.

Singh also invited investments particulary for energy sector. He further said India has a huge potential because the (energy) demand is here. The energy demand will grow at the rate of 7, 8 or 9 per cent here.

Substantiating the claim of prospects of rise in energy demand in India he said, "In past 16 months, we electrified 26.6 million homes. Now all that power demand is coming on line....our per capita demand is much lower than the developed countries."
Participating in the discussion, Coal Minister Prahlad Joshi said,"Coal will be there for next 20 to 30 years. For manufacturing, 55 per cent of the energy basket is coal."
About investment potential in coal mining in India he said, "FDI policy for coal is already announced. It is on track. But global investors come for bigger coal blocks. We are deliberating on this. Now for attracting global investors, we have to bring some policy within the ministry."