CleanTech/ Renewable Energy, Finance, Other

India targets 30 GW of renewable energy capacity addition in 12’th plan period

India has a  total power generation capacity of around 26,267 MW from renewables  in the country as on 31.10.2012. A target of adding about 30,000 MW from various renewable energy sources has been fixed for the 12th Plan period.

The Minister of New and Renewable Energy, Dr. Farooq Abdullah informed Rajya Sabha today that the report prepared by a World Bank team in the year 2010 had stated that India could produce about 68,000 MW of power from wind, bio-mass and small hydro power resources at a cost less than Rs. 6/ unit. The report had also brought out barriers and gave suggestions for tapping renewable energy potential in India. These suggestions include setting up of short and long term targets, breaking down of national Renewable Purchase Obligation (RPO) targets into State-wise RPOs and making them mandatory, introduction of technology neutral feed-in tariff based on avoided cost of power generation etc.

The Government has taken cognizance of the suggestions made in this report in addition to other inputs while formulating the 12th Five Year Plan for the renewable energy sector. Renewable energy is promoted by giving a mix of fiscal and financial incentives. Preferential tariffs are given to renewable power generation by most potential states. State specific RPOs are also declared by them.

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