As per the information given by R. K. Singh, union minister for power and new and renewable energy in a written reply in the Rajya Sabha, a total of 172.72 GW capacity from non-fossil fuel-based energy resources has been installed in the country as of October 31, 2022. This includes 119.09 GW renewable energy, 46.85 GW large hydro and 6.78 GW nuclear power capacity. This constitutes a share of 42.26 per cent of total installed generation capacity in the country which is 408.71 GW as on October 31, 2022.
Further, Central Electricity Authority has carried out generation expansion studies with the projected all India peak electricity demand and electrical energy requirement of 325 GW and 2,256 BU respectively for the year 2029-30. Study reveals that the share of renewable energy based installed capacity (including large hydro) in the capacity mix is likely to increase to around 480 GW by 2029-30.
According to the minister, the government has taken numerous steps towards the achievement of 500 GW installed capacity from non-fossil sources which include.
- Permitting foreign direct investment up to 100 per cent under the automatic route,
- Waiver of Inter State Transmission System (ISTS) charges for inter-state sale of solar and wind power for projects to be commissioned by June 30, 2025.
- Declaration of trajectory for Renewable Purchase Obligation (RPO) up to the year 2029-30.
- Setting up of Ultra Mega Renewable Energy Parks to provide land and transmission to renewable energy developers for installation of renewable energy projects at large scale.
- Schemes such as Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM-KUSUM), Solar Rooftop phase II, 12,000 MW CPSU scheme phase II, etc.
- Laying of new transmission lines and creating new substation capacity under the Green Energy Corridor Scheme for evacuation of renewable power.
- Notification of standards for deployment of solar photovoltaic systems and devices.
- Setting up of project development cell for attracting and facilitating investments,
- Standard bidding guidelines for tariff-based competitive bidding process for procurement of power from the grid connected solar PV and wind projects.
- Government has issued orders that power shall be dispatched against Letter of Credit or advance payment to ensure timely payment by distribution licensees to renewable energy generators.
- Notification of promoting renewable energy through Green Energy Open Access Rules 2022.
- Notification of “The electricity (late payment surcharge and related matters) Rules (LPS rules).
- Launch of Green Term Ahead Market to facilitate sale of renewable energy power through exchanges.