In order to enhance the ease of doing business, Secretary, Union Ministry of New & Renewable Energy (MNRE), Anand Kumar has said that the government is committed to managing curtailments in the renewable energy sector. He also noted that the Ministry is working with farmers and Commercial & Industrial (C&I) consumers to embed them into the renewables value chain as direct stakeholders.
Kumar further underlined the facts of the sector including India’s current capacity at 83GW and additional 70 GW capacity which is under fruition. He also said that the Government of India is confident of meeting its target of 175GW renewable energy capacity by 2022 and increasing it to 450GW over time.
Further, Anand Kumar expressed need for catalysing private investment and expand India’s clean energy market through innovative risk mitigation and aggregation instruments. Besides, he said that the additional investments in renewable up to year 2022 would be about $80 billion at today’s prices and an investment of around $300 billion would be required up to 2030.