India may fall around 7 GW short of its ‘60 GW by 2022’ utility-scale solar target if the power purchase agreement revision proposal by the state government is implemented.
“The CRISIL report is neither factually correct nor takes into account initiatives taken by the MNRE to facilitate accelerated development and deployment of renewable energy in the country. India will not only meet 175 GW target but exceed it by 2022”—stated the ministry.
A report by Indian ratings agency CRISIL points to a rising rate of tender failures, an inconsistent policy approach from central and state governments and restrictive solar energy tariff caps and says India could have just 104 GW of renewables capacity by 2022.
Long regarded as a solar pioneer, the state has now announced grand plans to shoulder the burden of 17% of the nation’s clean energy ambition as India races to install 175 GW of clean energy capacity in just three-and-a-half years.
The country has so far achieved around 80 GW of installed renewable energy capacity in chasing “175 GW by 2022” target. De-dieselisation of farms and railways ranks high on the Modi government’s priority list to push solar adoption.
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