New Delhi: In a bid to exceed Prime Minister Narendra Modi’s climate pledges, India announced that it will tender enough renewable energy projects over the next three years to surpass 200 gigawatts of green capacity build by 2022.
India declared a three-year program towards tenders for renewable energy projects that will meet its original target of 175 gigawatts of clean-energy capacity within five years, in addition to plans to spur local solar equipment manufacturing that will help push past the goal. It’s also looking at ways to export more wind turbines, a measure that may benefit Suzlon Energy Ltd.
“Our renewable road-map doesn’t include plans for floating solar projects and offshore wind installations, and we will comfortable exceed 200 gigawatts by 2022," power minister R.K. Singh said in New Delhi.
With renewable energy targets second only to those set by the government of China, India has a long way to go from a current base of 60 gigawatts to reach its ambition of 175 gigawatts in five years. The South Asian nations needs to expand its current solar capacity seven-fold to reach the 100 gigawatts by 2022. It would have to double wind installations to touch 60 gigawatts over the same period.
The plan to exceed these targets will see tenders of more than 80 gigawatts of solar projects and 30 gigawatts for wind by the 2020 financial year, Anand Kumar, secretary at the new and renewable energy ministry, said in New Delhi.
India is also considering getting export-import bank support to help wind turbine makers increase exports, Kumar added. Bloomberg