The World’s Most Promising Renewables Market Has Taken a Turn for the Worst

The Economic Times quoted that growth in India’s renewable energy output has plunged to 5.7 percent over the seven months to October 2019, from 28.5 percent a year earlier, the country’s Central Electricity Authority said. Reasons cited by authority is the energy output curtailment by different states as well as a slump in energy demand.

Last month, a number of coal-fired and nuclear power plants were shut down temporarily due to lackluster energy demand. Some of these, according to the data, had been idle for months.

India has set ambitious goals regarding their renewable power programs in the world, with plans to have wind and solar account for 55 percent of the total energy mix by 2030. In terms of capacity, the government plans to have 200 GW installed by 2022. That would up from the current 87 GW. There is 31 GW in renewable energy capacity under construction currently and another 35 GW at the bidding stage.

Last month, the government minister said, “So this becomes 140,000-145,000 MW. In hydro, we have installed capacity of around 45,000 MW and under installation capacity is about 13,000 MW. Which makes it around 60,000 MW. So we will cross 200,000 MW capacity of renewable energy by 2022”.

Over the last five years, growth in renewable energy generation in India has never fallen below 20 percent, not least because of government efforts in this area. However, in addition to lukewarm energy demand growth, the industry has had to contend with the weak financial performance of state power distribution companies.

Such condition has affected the financing of new renewable power projects and the reason in the reduction of production from existing installations, “as they do not want to submit bank guarantees or letters of credit in favor of such plants,” The Economic Times reported.

For More:

https://www.reonenergy.com/our-projects/
https://solar-energy-in-pakistan.blogspot.com/2019/12/the-role-of-black-silicon-solar-cells.html

https://www.sbs.com.au/news/giant-solar-park-in-the-desert-jump-starts-egypt-s-renewables-push