Amid the Covid-19 outbreak and the nationwide lockdown the government has made it clear that it is no mood to slash 175 gigawatt of renewable energy capacity target, which was set for 2022.
According to ET -Amitesh Kumar Sinha, joint secretary of the MNRE in a web conference organised by RE consultancy firm Bridge to India said “We are not going to slow down right now.”
Sinha added that the country will get raw materials need for building renewable energy capacity of 6-7 GW in another month. It is currently stuck in Chinese ports.
He further added SECI’s renewable energy auctions are currently receiving good responses.
Recently CRISIL in a statement said that The Ministry of New and Renewable Energy’s (MNRE) decision to remove tariff ceilings from renewable energy tenders will give the stressed industry a much-needed leg-up.
Renewables capacity addition dropped to ~9 GW in fiscal 2019, compared with 11-12 GW over fiscals 2017 and 2018, and remained subdued through fiscal 2020 as well, noted the research firm.
With tariff caps brought down progressively, undersubscription had risen for renewable energy tenders, impacting project pipeline, as highlighted by CRISIL Research in its webinar and press release in August and September, 2019, respectively.