Renewable Energy

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Summary

India stands 4th globally in Renewable Energy Installed Capacity (including Large Hydro), 4th in Wind Power capacity & 4th in Solar Power capacity (as per REN21 Renewables 2022 Global Status Report).*
India is among the top three nations in the world which are leading the global renewable energy growth. *
India will account for about 25% of global energy demand growth from 2020-40. *
Solar capacity increased 197% in the last 5 years from around 21,651 MW to 64,380 MW. *
India stands at 4th position in the world in terms of installed RE capacity, 5th in solar and 4th in wind in terms of installed capacity. *
The installed solar energy capacity has stands at 64.38 GW as of 28th February 2023. *
India is the 3rd largest market in the world for new solar photovoltaics (PV) capacity (as per REN21 Renewables 2022 Global Status Report). *
India has achieved the target of 42.53% of its installed electricity capacity from non-fossil energy sources by December 2022. The country’s installed Renewable Energy (RE) capacity on 31.12.2022 stands at 167.75 GW while its nuclear energy based installed electricity capacity stands at 6.78 GW. *
In the last 7 years, over USD 70 bn investment has been made in renewable energy in India. *
Share of generation from renewable sources (including Hydro) in total Generation has been increased to 22.2% during 2020-21 from 19.0% during 2013-14. *

Reasons to Invest

Economic growth, increasing prosperity, a growing rate of urbanization and rising per capita energy consumption is contributing to increasing demand for energy in the country.
India has a wind potential of more than 300 GW (at hub height 100 meters), the solar potential of ~750 GW, assuming 3% wasteland is made available, Small Hydro potential of ~ 20 GW, and Bio-energy potential of 25 GW. *
India has set an enhanced target at the COP26 of 500 GW of non-fossil fuel-based energy by 2030, inlcuding 270 GW of solar capacity. * This has been a key pledge under the Panchamrit. This is the world's largest expansion plan in renewable energy and will offer massive opportunities across the value chain. *
Solar Power tariff reduced by more than 75% using plug and play model. *
MNRE issues an issuance of a Concessional Custom Duty Certificate (CCDCs) for setting up projects for the generation of Compressed biogas using Urban and Industrial Waste of Renewable Nature.
Emission reduction of 28% over 2005 levels, against the target of 35% by 2030 already achieved by India. *
India will produce more than three times nuclear power and it is expected to reach 22,480 MW by the year 2031, from the current 6780 MW as more nuclear power plants are also planned in future. *
Pakal Dul Hydro Electric Project will contribute significantly in fulfilling the target of 500 GW Renewable energy by 2030. Investment of INR 8212 crores is being made in the region which will provide direct and indirect employment opportunities and will help overall development of the local inhabitants. * *
20,000 acres of land at Pang would be provided immediately by UT of Ladakh for setting up of Renewable Energy Park, while availability of other 20,000 acres of land at Pang would be explored to set up 10 GW of Solar Park in Ladakh. *
Revised Guidelines of Ministry of Power and New & Renewable Energy will enable the replacement of fossil fuel based energy by renewable energy under the existing PPAs. As the cost of renewable energy is less than the cost of Thermal energy, the gains from the bundling of renewable energy with thermal will be shared between the generator and Distribution companies/ other procurers on a 50:50 basis. *
To increase non-fossil energy capacity to 500GW by 2030, Coal & Lignite companies have planned to install additional 5560 MW of renewable capacity with an investment of over INR 15000 Crores. This will take the total installed capacity to 7 GW. Coal India alone has planned to install 3 GW of solar Power in next 5 years to achieve its net zero target.
Ministry of Power and New & Renewable Energy has issued revised guidelines providing for thermal generation companies to set up renewable energy generation capacity either by themselves through developers by open bids and supplying it to the consumers under the existing PPAs. *
India planning to have a capacity of 30,000 MW of Offshore wind and manufacture of high efficiency solar cells and modules of which India is going to set up 50,000 MW capacity *
Shri Bhagwant Khuba launches NSEFI’s Pan-India Rooftop Solar Awareness Campaign. MNRE is providing 40% of subsidy for households to install solar. This will enable to achieve the target of 500 GW of non-fossil by 2030. *
India is implementing the largest Renewable Energy (RE) expansion program in the world envisaging an overall increase in the RE capacity to 500 GW of renewable power in the country by 2030. *
Government aims to have a total investment of INR 8 lakh cr in green hydrogen, and production could be 5 mn tons by 2030. The fuel will be used to replace 25% of 'grey' hydrogen, created using natural gas or methane, within 5 years. *

Explore more about infrastructure availability in Renewable Energy sector >

Key Achievements

Central Government launches High Price Day Ahead Market and Surplus Power Portal (PUShP) to ensure greater availability of power during peak season. *
63.1% of all Indian households use clean fuel as primary source of energy for cooking as per Report on Multiple Indicator Survey, 2020-21’ (NSS Report No. 589) conducted by MoSPI. *
Around 119.5 MW worth of Captive Power Plants were commissioned by BHEL in FY 2020-21, while 75 Mw of Captive Power Plants have been commissioned during FY 2021-22 till September 2021. *
GOI has spent INR 35,000 crore on hydroelectric projects to provide electricity to villages of Jammu and Kashmir in 4 years from 2018-2021. *
Adoption of clean cooktop fuels, such as use of solar cooktops will give a boost to green and clean cooking and more than 3 crore households will have access to such cooktops in the next 2-3 years. *
Under the Off-Grid and Decentralised Solar Programme, more than 74 lakh solar lanterns and study lamps; more than 17 lakh home lights have been distributed. *
More than 6.80 lakh streetlights have been set up in the villages of India. *
Under the ‘Ladakh Renewable Energy Initiative (LERI)’ implemented by MNRE, the Ladakh Renewable Energy Development Agency (LREDA) has completed the implementation of 500 Commercial Green Houses (CGHs) in the Leh region with a total cost of INR 10.34 cr. *
Solar Energy Corporation of India (SECI) has awarded 1440 MW capacity after e-reverse auction under Solar – Wind Hybrid policy.
CPSU Scheme Phase II launched with VGF funding with 922 MW awarded under Tranche I and 1104 MW awarded under Tranche II.
12 biogas based projects have been commissioned with a power generation capacity of 212 kW and a corresponding biogas generation capacity of 1805 m3 per day. *
NTPC Ltd is a PSU under the Ministry of Power that has been serving the country for the past 45 years. They have ambitious plans of 60 GW of RE capacity by the year 2032 and currently it has 3.2 GW of installed RE capacity and 3.6 GW of RE capacity under construction. *
The Solar Energy Corporation of India (SECI) issued a Letter of Award for 1200 MW ISTS connected wind power projects on March 19, 2021.
Under the Waste to Energy Programme, MNRE sanctioned CFA of INR 250 cr to five MSW power projects with a total power capacity of 74.7 MW and total utilization of approximately 6000 tons/day of MSW.
The Diversion of Marusudar River of Pakal Dul Hydro Electric Project in Kishtwar district of J&K is inaugurated. *
Power Grid Corporation of India Limited (POWERGRID) has signed a Joint Development Agreement with Africa50, the pan-African infrastructure investment platform to continue to develop the Kenya Transmission Project on a public-private partnership basis. *
The agro-residue/ biomass earlier considered as a waste product has now begun to produce zero-carbon electricity for the citizens of the country. In turn, farmers are getting additional income by selling the stubble/ biomass for conversion into torrefied/ non-torrefied biomass pellets. *
Indian Scientists have designed an electrocatalyst system for energy-efficient hydrogen production with the help of electrolysis of urea. The urea electrolysis is helpful towards urea-based waste treatment with low-cost hydrogen production. This can be utilized for energy production towards our country's benefits. *
Solar Parks in Bhadla(2.2 GW) Pavagada (2 GW) and Kurnool (1 GW) included in top 5 operational solar parks of 7 GW capacity in the country. *

Recent Announcements: 24th March 2023: NHPC Limited, India, to carry out a study of 450 MW Seti River-6 Hydropower Project in Nepal

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24th March 2023: Peak power demand expected to be around 229 GW during 2023-24.

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23rd March 2023: 10.4% growth in energy consumption Y-o-Y from April, 2022 to February, 2023: Union Power & NRE Minister Shri R. K. Singh

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21st March 2023: NGEL has signed a Joint Venture Agreement with IOCL for setting up of renewable energy projects to meet Round the Clock power requirement of IOCL Refineries.

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21st March 2023: NTPC REL has signed an MoU with Indian Army for setting up Green Hydrogen Projects in its establishments on Build, Own and Operate (BOO) model.

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Statistics

The total installed renewable energy capacity is 168.96 GW as of 28.02.2023. *
A total of 7.3 GW RTS capacity has been achieved till 30.11.2022. *
The Q1 of FY 2022-23 saw an improvement of 269% over the last year.
The current installed power capacity in the country is around 408.72 GW. *
Electricity produced from wind energy projects was 64.54 bn units till date in FY 2022-23. *
Overall energy storage capacity developed in the country as on 13.03.23 is 4745.60 MW from Hydro Pumped Storage Projects (PSPs) and 39.12 MWh from Battery Energy Storage System (BESS). *
Coal (including lignite) based capacity in the total installed capacity of the country is likely to reduce to around 38.4% by March, 2027 and to around 28.7% by March, 2032. *
Green Term Ahead Market (G-TAM) comprises of contracts for trade in electricity generation from renewable energy sources. Total volume traded in GTAM since August 2020 - January, 2023 is 8509.49 Mn Units. *
Green Day Ahead Market (GDAM) is available for allowing exclusive trade in Renewable Energy. Total volume traded in GDAM since October 2021 - January 2023 is 4186.64 Mn Units. *
Power generation potential from agricultural and agro-industrial residues in India is estimated to be around 18,000 MW while the potential of surplus power generation through bagasse cogeneration in sugar mills is estimated at around 8,000 MW. Thus, the total estimated potential for biomass power is about 26,000 MW. *
The current annual ethanol production capacity in the country is approximately 1037 cr litres. *
36 lakh metric tonnes of ethanol produced from sugar till date. *
82.21 BU of electricity is generated from solar power projects in the country till January, 2023 in the current FY 2022- 23. *
Under Green Energy Corridor Scheme-Intra-State approx. 9700 ckm of transmission lines and 22600 MVA capacity of substations have been planned in eight states for evacuation of approx. 24 GW of RE projects. Out of this, 8405 ckm transmission lines and 15268 MVA of substations have been completed. *

Growth Drivers

8 Solar Parks with Aggregate Capacity of 4995 MW approved in Bundelkhand region. *
Ocior Energy signs MoU with Gujarat govt to invest Rs 40,000 cr in green hydrogen and ammonia. *
RBI has recognized IREDA as an Infrastructure Finance Company (IFC) which will allow them to access a wider investor base for fund mobilization and take higher exposure in Renewable Energy financing. This will increase the investors’ confidence, enhance the brand value, and generate positive outlook in the market. *
2435 e-buses deployed across various States/UTs as of 15.02.2023. Many states and UTs are actively prioritizing switching to e-vehicles for public transportation. *
Budget 2023: Allocation of INR 35,000 crore proposed for priority capital investment towards energy transition and net zero objectives. *
Budget 2023: Proposal to establish 500 new ‘waste to wealth’ plants under Gobardhan Scheme with a total investment of INR 10,000 crore. *
Rajasthan Budget 2023-24: Electricity duty on solar energy reduced from 60 paise to 40 paise and 100% exemption on land tax on solar projects for 7 years.
Rajasthan Budget 2023-24: Under Rajasthan Investment Promotion, state government will provide a 25% booster to first 3 units under sunrise category and falling under mega and ultra mega project slabs.
Rajasthan Budget 2023-24: Proposal to set up the Bhadla-Bikaner bulk corridor for evacuation of renewable energy greater then 100 kV.
UP Government is providing upto 50% subsidy on setting up solar-powered Food Processing Units under UP Food Processing Policy 2022-23. *
India, US, China and Brazil are in consultation to form a 'Global Biofuels Alliance' to explore opportunities for cooperation and intensifying use of sustainable fuels, particularly in the transportation sector. *
Government of India is targeting the setup production capacity of 15 MMT of CBG from 5000 plants by 2023 with an investment of USD 20 bn. *
Uttar Pradesh has set an ambitious objective to achieve a target of 22,000 MW Solar Power Projects by 2026-27 under its Solar Energy Policy 2022. *
Ministry of Petroleum and Natural Gas, Government of India, has signed a Statement of Intent with International Energy Agency to strengthen 30.8 Kilo Tonnes Green Hydrogen production capacities being set up by Central Public Sector Enterprises. *
ONGC signed a MoU with M/s Greenko ZeroC Private Limited (Greenko), to jointly pursue opportunities in Renewables, Green Hydrogen, Green Ammonia and other derivatives of green hydrogen. *
Government has approved 57 Solar Parks with aggregate capacity 39.28 GW, as on 28-02-2023. Out of these Solar Parks, 9 parks are fully complete and additional 8 parks are partially complete, with a cumulative capacity of 10,117 MW solar projects commissioned in these parks. *
NTPC REL inks MoU with GACL to collaborate in Renewable Energy and synthesize Green Chemicals. The MoU envisages collaborating in the field of Renewable Energy, Green Methanol & Green Ammonia and mutually exploring the opportunities for the supply of 100 MW RE-RTC (Round The Clock) power and synthesizing 75 TPD Green Methanol and 35 TPD Green Ammonia for captive use for the production of various chemicals by GACL at its Vadodara and Dahej complex in Gujarat. *
Ministry of Power has undertaken 9 High Impact Power projects (10 no. of transmission lines) spanning over 6 RE rich States Viz. Rajasthan, Gujarat, Madhya Pradesh, Maharashtra, Karnataka, Tamil Nadu under PM Gati Shakti National Master Plan. *
An investment of INR 1810.56 cr for 210 MW Luhri Stage-I Hydro Electric Project located on river Satluj was approved by Hon’ble PM Shri Narendra Modi. Through this project 758.20 mn units of electricity will generate annually. This will result in direct & indirect employment to around 2000 persons, which will boost socio-economic development of the State.
Feeder level solarization has been introduced under Component-C of the Scheme. As on 28.02.2023, grid-connected solar power plants of 89.45 MW capacity have been installed and 2.09 lakh agriculture pumps have been solarized under the Scheme. *
Hydropower projects including Renukaji Dam project, Luhri Stage 1 Hydro Power Project, Dhaulasidh Hydro Power Project and Sawra-Kuddu Hydro Power Project are inaugurated in Mandi, Himachal Pradesh worth over INR 11,000 crore. *
Union Minister of Power and MNRE has approved new 23 Inter State Transmission System Projects (ISTS) with an estimated cost of INR 15,893 crore. *
The new transmission projects would inter-alia facilitate evacuation system for 14 GW of Renewable Projects in Rajasthan, 4.5 GW of RE projects in Gujarat, 1 GW Neemuch Solar Park, Madhya Pradesh and feeding areas near Akhnoor and Jammu region by establishing Siot Substation in Jammu. *
Intra-State Transmission System – Green Energy Corridor Phase-II is targeted to be set up with total estimated cost of INR 12,031 crore and aims to achieve 450 GW installed RE capacity by 2030. *
Government, through National Institute of Wind Energy, has issued ‘Guidelines for Offshore Wind Power Assessment Studies and Surveys’ to enable private investors to carry out offshore wind resource assessment. *
GOI is aiming to have Net Zero Emissions by 2030. Nearly 450 GW out of 500 GW will come from Renewable Energy sources.
PM launched the National Hydrogen Mission to aid the government in meeting its climate targets and making India a green hydrogen hub. This will help in meeting the target of production of 5 MT of Green hydrogen by 2030 and the related development of renewable energy capacity. *
MoU has been signed between Hindustan Petroleum Corporation Limited (HPCL) and Solar Energy Corporation of India Limited to realize green energy objectives and the GOI’s efforts towards carbon-neutral economy. *
BHEL has indigenously developed India’s first Coal to Methanol Pilot Plant. *
IREDA, the largest lender of the Renewable Energy sector in India, sanctioned a loan of INR 267.67 crores to BluSmart Mobility for the purchase of 3,000 all-electric cars. *
Joint declaration of Intent on Indo – German Green Hydrogen Task Force signed for both countries to strengthen mutual cooperation in production, utilization, storage and distribution of Green Hydrogen through building enabling frameworks for projects, regulations and standards, trade and joint research and development (R&D) projects. *
MHA and Solar Energy Corporation of India Limited (SECI) sign MoU to realize India’s green energy initiative by jointly undertaking installation of Solar Rooftop PV Power Plants. *
To promote green hydrogen economy, India has estimated outlay of INR 25,425 Cr. The Green Hydrogen Mission has expected outcome of generating 4.1 Mn Tonnes of annual Green Hydrogen production. *

FDI Policy

FDI up to 100% is permitted in the renewable energy sector under the Automatic route and no prior Government approval is required. *
The cumulative FDI equity inflow in the Non-Conventional Energy industry is USD 13.28 bn during the period April 2000 to December 2022. This constitutes almost 2.12% of the total FDI inflow received across sectors. *

Production Linked Incentive (PLI) Scheme

The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi has given its approval to introduce the Production-Linked Incentive (PLI) Scheme in High-Efficiency Solar PV Modules for Enhancing India’s Manufacturing Capabilities and Enhancing Exports – Atmanirbhar Bharat.

Financial Outlay- INR 4,500 cr

For more details on PLI Schemes, Click Here

Sector Policy

The national Bio-Energy programme launched in November, 2022 for the period FY 2021-2022 to FY 2025- 26 provides for Central Financial Assistance (CFA) for setting up about 1.66 lakh small Biogas plants and about 80-100 Compressed Biogas (CBG) plants. Approval has been provided for implementation of Biomass Programme under the Umbrella scheme of National Bioenergy Programme for duration of FY 2021-22 to 2025-26 (Phase-I)- Reg.*
Ministry of New and Renewable Energy implements Rooftop Solar Programme Phase-II, targeting 4000 MW rooftop solar (RTS) capacity addition in residential sector. *
Ministry of Power's policy on “Biomass Utilization for Power Generation through Co-firing in Coal based Power Plants” issued in October 2021 mandates all thermal power plants in the country to use 5 to 10% biomass along with coal for power production. *
Ministry of New and Renewable Energy notified the 'Renewable Energy Research and Technology Development Programme' for promotion of indigenous technology development for wide spread deployment of new and renewable energy, including ocean energy, in an efficient and cost-effective manner across India. *
The Ministry of New and Renewable Energy notified the National Wind-Solar Hybrid Policy in 2018 with an objective to provide a framework for promotion of large grid connected wind-solar PV hybrid system for efficient and optimal utilization of wind and solar resources, land and transmission infrastructure. The policy aims to encourage new technologies, methods and wayouts involving combined operation of wind and solar PV plants. The Policy seeks to promote new hybrid projects as well as hybridisation of existing wind/solar projects. *
The Central Finance Assistance (CFA) under the Biogas based Power Generation and Thermal Application Programme (BPGTP) varies from INR 25,000 per kW to INR 40,000 per kW for power generation as per the generation capacity slab and INR 12,500 per kW to INR 20,000 per kW for thermal applications respectively. *
Under the ‘Programme on Energy from Urban, Industrial and Agricultural Waste/Residues’ Scheme, Central Financial Assistance (CFA) for projects of different categories is given in the form of capital subsidy to the promoters and in the form of Grants-in-Aid for other activities, as given below: *
- Biogas generation: INR 1 cr per 12000 cum/day (Max. INR 10 cr/ project)
- BioCNG generation (including setting of biogas plant): INR 4 cr per 4800Kg/day (Max. INR 10 cr /project)
- Power generation based on Biogas (including setting of Biogas plant): INR 3 cr per MW (Max. INR10 cr/ project)
- Biomass Gasifier:
  - INR 2,500 per kW with duel fuel engines for electrical application
  - INR 15,000 per kW with 100% gas engines for electrical application
  - INR 2 lakh per 300 kW for thermal applications.
Under the ‘Development of Solar Parks and Ultra Mega Solar Power Projects’ scheme, the Ministry provides Central Financial Assistance (CFA) of up to INR 25 lakh per solar park for preparation of Detailed Project Report (DPR). Beside this, CFA of up to INR 20.00 lakh per MW or 30% of the project cost, including Grid-connectivity cost, whichever is lower, is also provided on achieving the milestones prescribed in the scheme. *

Deendayal Upadhyaya Gram Jyoti Yojana (DDUGJY) *

The Ministry of Power launched this scheme with the following components:

To separate agriculture and non-agriculture feeders to facilitate DISCOMs in the judicious rostering of supply to agricultural & non- agricultural consumers in rural areas.
Strengthening and Augmentation of Sub Transmission & Distribution infrastructure in rural areas and metering at Distribution Transformers, Feeder and consumers end in rural areas.
The erstwhile rural electrification scheme was subsumed in DDUGJY as a separate rural electrification component and the approved outlay of the erstwhile scheme has been carried forward to the DDUGJY.

The total outlay of Deendayal Upadhyaya Gram Jyoti Yojana (DDUGJY) was INR 75893 cr and subsidy was INR 63027 cr.

Production-Linked Incentive (PLI) Scheme *

Production-Linked Incentive (PLI) Scheme in High-Efficiency Solar PV Modules Sector through the Ministry of New and Renewable Energy was approved with a financial outlay of INR 4500 cr over a five-year period for Enhancing India’s Manufacturing Capabilities and Enhancing Exports – Atmanirbhar Bharat. Read More
Expected outcomes/ benefits from the scheme are - Additional 10,000 MW capacity of integrated solar PV manufacturing plants.; Direct investment of around 17,200 cr in setting up solar PV manufacturing projects; Direct employment of about 30,000 and Indirect employment of about 1,20,000 persons; Import substitution of around 17,500 cr every year; Demand of 17,500 cr over 5 years for 'Balance of Materials'.
Central Government has allocated a total capacity of 39,600 MW of domestic Solar PV module manufacturing capacity to 11 companies, with a total outlay of INR 14,007 cr under the Production Linked Incentive Scheme for High Efficiency Solar PV Modules (Tranche-II). *
The Tranche-II of High Efficency Solar PV modules is expected to bring in an investment of INR 93,041 cr. It will also generate a total of 1,01,487 jobs with 35,010 getting direct employment and 66,477 being indirectly employed. *
Domestic solar PV module manufacturing capacity allocated under the PLI Scheme is 48,337 MW, with a cumulative support of more than INR 18,500 Crore by the Government under Tranche-I and Tranche-II till date. *

Atal Jyoti Yojana (AJAY) Phase-II: *

The AJAY Ph-II Scheme for installation of solar street lights with 25% fund contribution from MPLAD Funds was discontinued from 1 April 2020 as the Government decided to suspend the MPLAD Funds for next two years i.e., 2020-21 and 2021-22.
2.72 Lakh Solar Street Lights installed till date in Atal Jyoti Yojana. *

Energy Storage Systems *

Policy on Energy Storage system is being drafted to promote the creation of storage systems on a large scale across the country.
The policy aims at the creation of technology-agnostic storage system across the value chain of the electricity sector viz. at generation, transmission, and distribution levels.
Energy Storage Systems will benefit Generating Companies, Distribution Companies of the States, Grid Operators, and other players in the electricity value chain.
They will facilitate Peak shifting, Peak Shaving, Ramp up/ Ramp down, and Frequency Control in the system and enhance the utilization of the Transmission System. ESS is considered essential for a smooth energy transition from coal-based to renewable sources and to a cleaner environment.

Green Open Access Rules 2022

The Rule has been notified to further accelerate our ambitious renewable energy programmes, with the end goal of ensuring access to affordable, reliable, sustainable and green energy for all. *
The Green Open access is allowed to any consumer and the limit of Open Access Transaction has been reduced from 1 MW to 100 kW for green energy, to enable small consumers also to purchase renewable power through open access.
Transparency in the approval process of the open access application. Approval to be granted in 15 days or else it will be deemed to have been approved subject to fulfilment of technical requirements. It will be through a national portal.
Banking of surplus green energy with the distribution licensee mandated.
Consumers will be given the green certificates if they consume green power.
Cross subsidy surcharge and additional surcharge shall not be applicable if green energy is utilized for production of green hydrogen and green ammonia.

(CPSU) Scheme Phase-II *

The ‘Central Public Sector Undertaking (CPSU) Scheme Phase – II aims to set up a 12 GW grid-connected Solar photovoltaic (PV) Power projects. The eligible organizations are Government Producers (PSUs/ Govt. Organs.) which are under administrative control or have 50% shareholding of Central / State Government. The support offered by the central government is VGF of up to INR 70 lakhs/ MW; actual VGF decided through bidding for VGF required. *
NLCIL has installed around 1421 MW of Renewable energy and in process of installing 4610 MW under MNRE and CPSU scheme leading to a total of 6031 MW of Renewable Energy by 2030. The expansion of the Renewable Energy of 4610 MW additionally, will be undertaken with an estimated cost of Rs. 23,403 Cr. over a period of eight years. *

PM-KUSUM Scheme*

Total of 89.45 MW capacity has been installed under Component-A and around 2.09 lakh pumps have been reported solarized under Component-B and Component-C as on 28.02.2023
A total demand of 6512 MW made by states under Component-A till 31.03.2026
Feeder level solarization has been introduced under Component-C of the Scheme.

Explore Government policies/ schemes in Renewable Energy sector >

Financial Support

Highlights of Budget 2022-23 *

The total budgetary allocation for FY 2022-23 towards the Ministry of New and Renewable Energy is INR 6900.68 cr.

Investment Opportunities

The Cooperation Agreement signed between the energy ministries of India and Denmark presents opportunities for cross-border investment in capacity building and development of offshore wind projects. Investors can also explore opportunities in ancillary areas of wind turbine components and ensuring their efficacy and certification upto global standards. *
Ministry of New & Renewable Energy (MNRE) supports Research, Development & Demonstration projects in the Renewable Energy sector to develop new and renewable energy technologies, processes, materials, components, sub-systems, products & services, standards and resource assessment to create an indigenous market for manufacturing of new and renewable energy systems and devices. *
In order to attract the large investment for the development of the Offshore wind energy sector in India, the Government of India under the ‘National Offshore Wind Energy Policy’ has announced to develop 30 GW worth of offshore wind energy projects by 2030. *

Explore projects to invest in Renewable Energy sector >

Sector Reports

Foreign Investors

Enercon (Germany)
Vestas (Denmark)
Applied Materials (US)
Asian Development Bank
Enel (Italy)
Gamesa (Spain)
Orix (Japan)
Nordex (Germany)
Mudajaya (Malaysia)

Agencies

Sources

Ministry of New and Renewable Energy, https://mnre.gov.in/
National Green Hydrogen Mission, January 2023, https://mnre.gov.in/img/documents/uploads/file_f-1673581748609.pdf
Annual Report 2021-22, https://mnre.gov.in/img/documents/uploads/file_f-1618564141288.pdf
PIB Release, https://www.pib.gov.in/PressReleasePage.aspx?PRID=1726184
IREDA to Create a Green Window for Green Energy Finance, Ministry of New and Renewable Energy, PIB, https://www.pib.gov.in/PressReleasePage.aspx?PRID=1595888
Annual Report 2019-20, Ministry of New and Renewable Energy, https://mnre.gov.in/img/documents/uploads/file_f-1597797108502.pdf
Year-End Review 2019, MNRE, PIB, https://www.pib.gov.in/PressReleasePage.aspx?PRID=1598948
Consolidated FDI Policy, https://static.investindia.gov.in/s3fs-public/2020-09/FDI%20Policy%202020%20revised_18%20Sept%202020.pdf
Factsheet on FDI - April 2000 to December 2021, Department for Promotion of Industry and Internal Trade, https://dpiit.gov.in/sites/default/files/FDI%20Factsheet%20December%2C%202021.pdf
Expenditure Budget, Ministry of New and Renewable Energy, https://www.indiabudget.gov.in/doc/eb/vol1.pdf
Cabinet approves Cooperation Agreement between India and Denmark in the field of Renewable Energy with focus on Offshore Wind Energy, PIB, https://www.pib.gov.in/PressReleasePage.aspx?PRID=1570599
Schemes, Ministry of New and Renewable Energy, https://mnre.gov.in/solar/schemes/
Annual Report 2019-20, Ministry of New and Renewable Energy, https://mnre.gov.in/img/documents/uploads/file_f-1597797108502.pdf
Ministry of New and Renewable Energy, https://powermin.gov.in/sites/default/files/uploads/Monthly_Summary_for_the_Cabinet_concerning_Ministry_of_Power_for_the_month_of_Sep_2020.pdf
Annual Report 2019-20, Ministry of New and Renewable Energy, https://mnre.gov.in/img/documents/uploads/file_f-1597797108502.pdf
Ministry of New and Renewable Energy, Monthly Report, https://powermin.gov.in/sites/default/files/uploads/Monthly_Summary_for_the_Cabinet_concerning_Ministry_of_Power_for_the_month_of_Sep_2020.pdf
PIB Release, https://www.pib.gov.in/PressReleasePage.aspx?PRID=1670598
PIB Release, https://www.pib.gov.in/PressReleasePage.aspx?PRID=1672580
Ministry of New and Renewable Energy, Monthly Summary for the Cabinet for November 2020, https://mnre.gov.in/img/documents/uploads/file_f-1607587283931.pdf
PIB Release, https://www.pib.gov.in/PressReleasePage.aspx?PRID=1676191
Ministry of New and Renewable Energy, https://mnre.gov.in/img/documents/uploads/file_f-1607587283931.pdf
PIB Release, https://www.pib.gov.in/PressReleasePage.aspx?PRID=1682467
PIB Release, https://pib.gov.in/PressReleseDetail.aspx?PRID=1685046
Ministry of New and Renewable Energy, Monthly Report, https://mnre.gov.in/img/documents/uploads/file_f-1623745369613.pdf

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