Govt set to power renewable energy almost 3-fold by 2022

Besides, the government has undertaken many policy measures to increase the share of renewable energy. In a written reply in Lok Sabha on Thursday, the Union Power Minister RK Singh mentioned that the ministry has come up with a provision of Renewable Purchase Obligation (RPO) under the National Tariff Policy.

The government recently amended the NTP to increase focus on renewable energy, sourcing power through competitive bidding and the need for reasonable rates. It has also emphasized on the development of Solar parks, Ultra Mega Solar Power Projects, and development of power transmission network through Green Energy Corridor project.

Recently the Green Climate Fund (GCF) approved the proposal submitted by NABARD for a 'Line of credit for solar rooftop segment for commercial, industrial and residential housing sectors' with a GCF loan support of $100 million. In its 19th Board Meeting held at Songdo, South Korea early this month the National Bank for Agriculture and Rural Development (NABARD) has been accredited as a Direct Access Entity (DAE) of GCF for channeling resources under this Fund.

The government has also permitted 100 per cent Foreign Direct Investment (FDI) in this sector. Early this week the French President Emmanuel Macron also announced that French National Institute of Research will support training of executives for the solar sector during the International Solar Alliance founding conference here. It will also facilitate research.

In addition, the minister also avouched that the government would focus on the growth of offshore wind energy in the Indian Exclusive Economic Zone. According to the Facilitating Offshore Wind in India's (Fowind's) recent report in India offshore wind energy sector shows much progress, but more work needs to be done.