MNRE: CRISIL Is Wrong India Will Achieve Its 175 GW RE Target

In Clean Facts, Clean Truth, News, Renewable Energy

Reports have appeared in a section of media,citing a CRISIL report, that India may fall short of its declared renewable energy target of 1,75,000 MW by the year 2022.

The Ministry of New & Renewable Energy (MNRE) has refuted such claims.

MNRE says the doubts are ill-founded and not reflective of the status on the ground and plans ahead.  By the end of September 2019, India has installed more than 82,580 MW of renewable energy capacity with around 31,150 MW of capacity under various stages of installation.

Thus, by the first quarter of 2021, India would have installed more than 1,13,000 MW of renewable power capacity. This would constitute nearly 65 per cent of the targeted capacity.Besides this, around 39,000 MW of renewable power capacity is at various stages of bidding which would be installed by September 2021, taking the percentage of installed capacity to over 87 percentage of the targeted capacity.

With only 23,000 MW of renewable power capacity left to bid, India is confident that the target of installing 1,75,000 MW of renewable power capacity will not only be met but exceeded.

Since March 2014, India’s renewable power capacity has increased from 34000 MW to 82,580 MW recording 138 percent growth. Globally, India stands 5th in solar power, 4th in wind power, and 4th in total renewable power installed capacity.

The journey for expanding the share of renewables in the energy mix has not been without continuous challenges but MNRE has taken steps to address them in timely manner.

The CRISIL report being referred to by the media 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.

This report lacks in credibility in all respects as CRISIL did not even bother to consult this Ministry for its views.  

This is a PIB News-Feed; edited by Clean-Future Team

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