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Installed Renewable Energy Capacity Crosses 84GW

Capital Market 

As a part of Nationally Determined Contributions as per the Paris Accord on Climate Change, India has made a pledge that by 2030, 40% of our installed power generation capacity shall be from non-fossil fuel sources and also by 2030, reduce emission intensity of GDP by 33-35 % from 2005 level. Economic growth, increasing prosperity, a growing rate of urbanisation and rising per capita energy consumption has increased the energy demand of the country. Renewable Energy sector made rapid strides in 2019 with the Installed Renewable Energy capacity crossing 84GW.

The government decided in 2015 that 175 GW of renewable energy capacity will be installed by the year 2022. This includes 100 GW from solar, 60 GW from wind, 10 GW from biomass and 5 GW from small hydro power. The substantial higher capacity target will ensure greater energy security, improved energy access and enhanced employment opportunities. With the accomplishment of these ambitious targets, India will become one of the largest Green Energy producers in the world, even surpassing several developed countries.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, January 10 2020. 12:26 IST
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