RENEWABLE energy projects of
about 151 GW capacity are under
various stages of implementation in
the country, Union Minister Pralhad
Joshi has said.
The Minister for New and
Renewable Energy further said that
around 76.42 GW ofrenewable energy capacity will be operationalized
in next 3-4 years.
“The Government is taking several initiatives to prioritise renewable
energy. Nearly 151 GW of renewable
projects arebeingimplemented, and
76.42 GW will be operationalized in
3-4 years,” he said addressing a session at 'Mercom India Renewables
Summit 2024' in the national capital on Friday.
The tendering process for 76.42
GW capacity of projects has already
been completed, the minister said.
Therenewable energycapacityhas
increased over 2.5 times from 76 GW
in 2014 to more than 195 GW as of
June 2024, Joshi said.
Thesolarpowercapacitywitnessed
a steep jump from just 3 GW in 2014
to more than 85 GW now while wind
power capacity increased from 21
GW to more than 46 GW, the minister added.
“The recent bidding trajectory has
beenagreatinitiative.IfGovernment
agencies continue to exceed their
targets andstartmandatingauctions
through PPA/PSA signing, as a part
of the trajectory,wewillwitnessa significant increase in installations in
the coming years,” Raj Prabhu, CEO
of Mercom Capital Group said.
Theinstallations arepoised to take
off in a big way starting this year as
the market enters the next level of
growth and becomes one of the top
three solar markets in the world, he
added.