Business Mantra News
India is transforming towards renewable energy as the share of clean energy is progressively rising in the country.
The country’s renewable energy capacity was 62.05 GW till November, 2017 and it can reach up to 175 GW by 2022.
It includes energies from wind, bio-power, hydro power and energy from solar.
The Power and New & Renewable Energy Minister RK Singh told to Rajya Sabha that total 62.05 GW of renewable energy capacity has been set up till November 2017 which includes 32.75 GW wind generated energy, 16.61 GW solar power energy and 8.29 GW from bio power and 4.40 from hydro power.
The minister said that there was a vital increase in the generation of renewable energy capacity as an increase of 6.59 per cent is noted in year 2016-17 which is higher than the previous year.
Earlier in the month of October, 2017 India and Italy inked a pact over renewable energy to promote and encourage co-operation in the field of Renewable energy generation capacity.
Narendra Modi Government has set a target of generating 175 GW of renewable energy capacity by 2022 which includes 100 GW from solar, 60 GW from wind, 10 GW from Bio-power and 5 GW from Small Hydro generation.
Due to high valued generation of renewable energy, the Minister said it cannot be used for commercial purposes.
Per MB generation cost of renewable energy is approximately 30 Crores to 60 Crores.
These figures shows that India will become power oriented nation by 2022 and growth of renewable energy would also be enhanced remarkably and a step further towards self-sufficiency in power generation.