Green sources can generate 60% power, says Goyal

Green sources can generate 60% power, says Goyal

Govt target set at 175 GW by 2022

Green sources can generate 60% power, says Goyal

With the Centre aggressively pushing renewable energy, Power Minister Piyush Goyal has said that India’s 60% to 65% of installed power generation capacity will be from green energy in the next five years.

 Enthused by drop in renewable energy tariff due to aggressive bidding by companies, the minister said, “Going by prices, we have discovered that 60-65% of India’s installed capacity base will be green energy in five years.”

 “India’s renewable energy programme is a great example of how you can do big by thinking big,” he said.

 At present, out of 315 GW of total power generation installed capacity, around 50 GW is from renewable sources, while large hydro projects (above 25 MW) constitute 44 GW. The government is targeting to produce renewable energy generation capacity of 175 GW by 2022. Of this, 100 GW will be solar, and wind energy capacity will be 60 GW.

 Solar tariff has plummeted to Rs 2.97 per unit in an auction conducted for 750 MW capacity in Rewa Solar Park in Madhya Pradesh last month. Even wind power tariff  too has dropped to a record low of Rs 3.46 per unit in an auction of 1,000 MW capacity conducted by the Solar Energy Corporation of India (SECI).

This has raised hope that India can achieve its target in generating green energy.