With Budget 2016-17 out - Where India stands?
- Date : 03/21/2016 11:44 am
- @Author :Admin RE-PORT
With the budget of 2016-17 rolled out by the Hon. Finance Minister – it is also time to take a quick recap of where we stand in the RE segment.
India has been committal ever and opened out more in Paris in the recent conference of UN on Climate Change that was held in 2015. India has already set targets to fulfill its commitment to make the path clear and pursuable.
India shall promote non-fossil-fuel-based energy of 40% power installed capacity and it has target to curb 33-35% emissions in next 15 years. It aims at 175 gigawatts (GW) of installed capacity from RE resources. This includes a target of 60GW of wind power installed capacity.
ISA that is - International Solar Alliance - of countries with higher potential in solar energy, has also been floated and India has target of 100GW of solar power. It also has entered into understanding with Germany on this. It is also aimed to set up twenty five 50MW solar parks. In another initiative, the response has also been sensed from global investors in RE-INVEST* in 2015 – which is extremely encouraging.
The Green Energy Corridors programme that is a transmission grid across India for renewable energy power, has also been launched by the Govt. of India.
Govt. also has a scheme for viability gap funding for solar power projects being set up by towards supporting in capital cost for the project developers.
Together, the measures would set the momentum improved and it is still going to be monitored by the government keenly to not let things going out of track.