India's solar power capacity to be 22 Gw by March: Piyush Goyal

India set a target of having 100 GW of solar energy and 60 Gw of wind power capacities by 2022

India’s solar power generation capacity would nearly double to 22 Gw by the end of the current financial year and more wind power auctions would be conducted in the coming months, Power Minister Piyush Goyal said on Thursday.

India has set an ambitious target of having 100 GW of solar energy and 60 Gw of wind power capacities by 2022.

“Solar Power generating capacity would be around 22 Gw by the end of this fiscal (from over 12 Gw at present),” Goyal told reporters here after releasing a report on integration of renewables in the electricity grid. On wind power, he said: “The auction has already been conducted for 1 Gw where tariff has come down to Rs 3.46 per unit (earlier this year). One tender for another 1 Gw is also in process, which would be completed soon. The bidding activity would also continue in coming 3-4 months and it would get the same encouragement as in case of solar.” Earlier last month, solar power tariff had dropped to all time low of Rs 2.44 per unit in the auction conducted for Bhadla solar park.

ACME Solar Holdings had emerged as the lowest bidder by quoting Rs 2.44 per unit tariff for 200 MW followed by SBG Cleantech One at Rs 2.45 per unit for 500 MW capacity.

Similarly, the 1 GW wind power auction also evoked good response as the tariff dropped to Rs 3.46 per unit in an auction conducted by the Solar Energy Corp (SECI). Goyal said: “It is time for the people of India to get ready and embrace the change with a ‘New Mindset’ of a ‘New Grid’ for a ‘New India’, which is ready to integrate large amount of renewable energy."

The minister on Wednesday told reporters that government would soon bring out a hydro power policy to revive the stalled projects.

Asked about peaking power policy where instead of load shedding, the discoms can supply power at higher tariff than contracted rates during peak hour, the minister had said, “There is no peaking power policy on the unveil.”