{"id":21978,"date":"2019-07-08T11:20:11","date_gmt":"2019-07-08T05:50:11","guid":{"rendered":"http:\/\/www.greenworldinvestor.com\/?p=21978"},"modified":"2019-07-08T11:20:11","modified_gmt":"2019-07-08T05:50:11","slug":"indian-government-grows-more-aggressive-on-re-targets","status":"publish","type":"post","link":"https:\/\/iiec-india.org\/greenworld\/2019\/07\/08\/indian-government-grows-more-aggressive-on-re-targets\/","title":{"rendered":"Indian Government Grows More Aggressive On RE Targets"},"content":{"rendered":"

India is running the most impressive renewable energy program in the world. The country has an installed renewable energy capacity of about 80 GW currently, and has plans to further install 500 GW by 2030<\/em><\/a>, as part of its\u00a0clean energy drive. It is estimated that the country would need\u00a0$80 billion in funds until 2022 for its future RE investments.<\/p>\n

Given its recently increased target of\u00a0500 GW of renewable energy capacity installation by 2030, it is further estimated that funds to the tune of\u00a0$250 billion would be required during 2023-30<\/em>. There is thus, investment opportunities for over $30 billion per year for the next decade and beyond. A pro-renewable energy government<\/strong> at the Center and the promise to provide\u00a0affordable electricity<\/strong> to the masses act as strong tailwinds for faster adoption of renewable energy in the country.<\/p>\n

\"solar<\/a><\/p>\n

OPEC<\/strong>, which\u00a0accounts for around more than 80% of\u00a0India’s total crude oil imports is also cutting down its production. India thus needs to strengthen its renewable energy footprint to compensate for the lost energy and gear up an aggressive roadmap for the installations.<\/p>\n

Pro-active measures by the government in the Pipeline<\/strong><\/p>\n

In order to further\u00a0ramp up installations, the MNRE has asked the RBI to remove the\u00a0limit on\u00a0priority sector lending<\/em><\/strong> for the renewable energy sector. If implemented, this would\u00a0encourage the public sector banks to lend more for renewable energy projects. The ministry has also\u00a0asked the financial institutions and banks to\u00a0recognize\u00a0renewable energy as a separate sector different from the power sector. To remove hurdles from the matter of land acquisition<\/em><\/strong>, the ministry has assured that\u00a0SECI\u00a0would\u00a0tie up with the respective state government. There will be no upfront payment for the land as it would be on a lease. In a bid to further streamline the processes, the ministry has also promised to implement\u00a0corrections of duty structure around GST,\u00a0inverted duty model, and approval scheme\u00a0for\u00a0capital subsidy.<\/p>\n","protected":false},"excerpt":{"rendered":"

India is running the most impressive renewable energy program in the world. The country has an installed renewable energy capacity of about 80 GW currently, and [\u2026]<\/span><\/p>\n","protected":false},"author":1,"featured_media":16748,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_eb_attr":"","content-type":"","footnotes":""},"categories":[30,45],"tags":[347,2069,2942,2976,4330,4331],"class_list":["post-21978","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-india-green-stocks-greeninvest","category-solar-renewable-energy-greeninvest","tag-affordable-electricity-for-all","tag-fund-requirement-in-solar","tag-indias-re-impressive-renewable-energy-program","tag-indian-government-grows-more-aggressive-on-re-targets","tag-remove-hurdles-from-the-matter-of-land-acquisition-for-solar","tag-remove-the-limit-on-priority-sector-lending-re"],"_links":{"self":[{"href":"https:\/\/iiec-india.org\/greenworld\/wp-json\/wp\/v2\/posts\/21978","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/iiec-india.org\/greenworld\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/iiec-india.org\/greenworld\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/iiec-india.org\/greenworld\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/iiec-india.org\/greenworld\/wp-json\/wp\/v2\/comments?post=21978"}],"version-history":[{"count":0,"href":"https:\/\/iiec-india.org\/greenworld\/wp-json\/wp\/v2\/posts\/21978\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/iiec-india.org\/greenworld\/wp-json\/wp\/v2\/media\/16748"}],"wp:attachment":[{"href":"https:\/\/iiec-india.org\/greenworld\/wp-json\/wp\/v2\/media?parent=21978"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/iiec-india.org\/greenworld\/wp-json\/wp\/v2\/categories?post=21978"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/iiec-india.org\/greenworld\/wp-json\/wp\/v2\/tags?post=21978"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}