Government promoting renewable energy

Government promoting renewable energy

Ministry of New and Renewable Energy is working towards achieving 500 GW of installed electricity capacity from non- fossil sources by 2030.

So far, a total of 174.53 GW capacity from non-fossil fuel based energy resources has been installed in the country as on 31.12.2022, which includes 167.75 GW Renewable Energy and 6.78 GW Nuclear Power. This comes to 42.53% of total installed generation capacity in the country i.e. 410.34 GW, as on 31.12.2022.

The Government have taken several measures to promote renewable energy in the country, including, inter-alia, the following:-

  • Permitting Foreign Direct Investment (FDI) up to 100 percent under the automatic route,
  • Waiver of Inter State Transmission System (ISTS) charges for inter-state sale of solar and wind power for projects to be commissioned by 30th June 2025,
  • Declaration of trajectory for Renewable Purchase Obligation (RPO) up to the year 2029-30,
  • Setting up of Ultra Mega Renewable Energy Parks to provide land and transmission to RE developers for installation of RE projects at large scale,
  • Schemes such as Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM-KUSUM), Solar Rooftop Phase II, 12000 MW CPSU Scheme Phase II, etc,
  • Laying of new transmission lines and creating new sub-station capacity under the Green Energy Corridor Scheme for evacuation of renewable power,
  • Notification of standards for deployment of solar photovoltaic system/devices,
  • Setting up of Project Development Cell for attracting and facilitating investments,
  • Standard Bidding Guidelines for tariff based competitive bidding process for procurement of Power from Grid Connected Solar PV and Wind Projects.
  • Government has issued orders that power shall be dispatched against Letter of Credit (LC) or advance payment to ensure timely payment by distribution licensees to RE generators.
  • Notification of Promoting Renewable Energy through Green Energy Open Access Rules 2022.
  • Notification of “The Electricity (Late Payment Surcharge and related matters) Rules (LPS rules).
  • Launch of Green Term Ahead Market (GTAM) to facilitate sale of Renewable Energy Power through exchanges.
  • National Green Hydrogen Mission has been approved with an aim to make India a global hub for production, utilization and export of Green Hydrogen and its derivatives.