The government will crack down on developers of power projects, who miss the scheduled commercial date of operation or deadline to complete the project, Power and New & Renewable Energy Minister R K Singh said on Thursday.
Addressing a CII conference, Singh said the electricity generation capacity addition is a big challenge, as people are sitting on several projects won under the bidding process.
Singh said that all these projects (power) are won under the bidding process and if they miss the SCOD (scheduled commercial date of operation or deadline) to complete the project, the developer will be banned from participating in project bidding for one year.
On the second such incident, the developer will be banned for five years, Singh said, adding that he is going to put this (rule) in (policy).
Singh further said up to 65 per cent of the country’s energy capacity will come from non-fossil sources by the end of the decade. Speaking at the CII annual general meeting 2023 Singh at CII Annual Session 2023 on Thursday, Singh said the country already has the lowest cost of production of renewable energy.
“As much as 45 per cent of electricity which is consumed is already green," he said.
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The addition of capacity is a challenge, but also an opportunity due to India being one of the fastest-growing countries with the largest energy demand which continues to grow at a fast pace, Singh stressed.
Singh said about 15,000 Mw hydropower capacity was under construction, and another 30,000 Mw was needed.
However, India has missed the target of setting up 175 gigawatt (Gw) of domestic renewable energy capacity by 2022. Set in 2015, this included 100 Gw from solar power, 60 Gw from wind power, 10 Gw from bio-power and 5 Gw from small hydro power.
As of February 28, India has a total renewable energy capacity of 1,669 Gw, with about 82 Gw at various stages of implementation and about 41 Gw under tendering stage, government data shows.
The minister said the government was keen to expand partnership with industry, and academia to develop the country’s capacity and storage of renewable energy and expand India’s research and development capabilities.
He referred to the National Green Hydrogen Mission, which aims to have largest green hydrogen capacity in the world, in this regard. The Cabinet has approved the National Green Hydrogen Mission with an outlay of Rs 19,744 crore from 2023-24 to 2029-30.