Large sized capacity is adding in renewable energy store by the wind and solar power projects by 2020. Central and state government is introducing new tariff plans and tender to increase the growth of the renewable industry.
Renewable energy is increasing its share in energy generation form 5.6 in 2015 to 7.8% in 2018.
ICRA Group head, Sabyasachi Majumdar said the project awards by the central nodal agencies and state distribution utilities in 2017 and 2018 provide a reasonably healthy visibility for RE capacity addition in FY2019 and FY2020 with the expected addition of about 9,000 MW in FY2019 and about 10,000 MW in FY2020. He also said “This is expected to increase the share of RE in the all India generation to 10 per cent by FY2020 and further to 13 per cent by FY2022 based on capacity addition forecasts. We have maintained a year-end stable outlook for the domestic renewable energy sector,”
The renewable auctions average tariffs rate for wind and solar power tender is at Rs 2.6-2.7 per unit energy.
Delhi government, CM Mr Arvind Kejriwal and Haryana government also started new solar projects for the institute, school and housing buildings.