A study was carried out by Central Electricity Authority, Ministry of Power with an objective to project the Optimal Generation Capacity mix for 2029-30, the results of which were published in January, 2020. According to the study, the estimated electricity generation from renewable energy sources was assessed to be 39% of the total electricity generation by the year 2029-30.
Government have taken several steps to promote renewable energy in the country to achieve the goal of 500 GW of non-fossil fuel capacity by 2030, in line with Hon’ble Prime Minister’s announcement at CoP-26. These include:
- 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 2030,
- Setting up of Ultra Mega Renewable Energy Parks to provide land and transmission to RE developers on a plug and play basis,
- 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,
- 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.
This information was given by R.K Singh, Union Minister of Power and New & Renewable Energy in a written reply in Rajya Sabha today.