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India expects to invest another $100 billion to install about 90 gigawatts (GW) of renewable energy to reach the target
of 175 GW by 2022, a senior Indian government official said recently.
"In India, renewable energy initiatives are led
by private sector investment," the official said.
The $100 billion investment provided assistance for 86 GW, and we expect to invest another $100 billion
to install the remaining 90 GW.
”
He added that in order to attract investment from India, the government has strengthened power purchase agreements
that cannot be renegotiated.
Another step is to appropriately share investment risks between developers and governments and establish sound payment security mechanisms
.
Speaking about green finance, the official said: "We know that getting green finance is not easy, although we are working to seek support from the World Bank to help with the Roof Program
.
We are trying to open a green window through IREDA to provide assistance to the relevant departments, which other financial institutions cannot provide
.
”
He added that to reduce the cost of venture capital, a payment security mechanism is needed, and to maintain this, the government needs to establish payment security within the tax range
.
He further added that they already have two bidders to build 3 GW of solar cells and 3 GW of solar module manufacturing
by 2021.
It is reported that the Indian government is preparing a tender to mix renewable energy and heat energy with a ratio of 51:49
.
And as demand grows, the share of renewable energy in the hybrid energy mix will gradually increase
.
India expects to invest another $100 billion to install about 90 gigawatts (GW) of renewable energy to reach the target
of 175 GW by 2022, a senior Indian government official said recently.
"In India, renewable energy initiatives are led
by private sector investment," the official said.
The $100 billion investment provided assistance for 86 GW, and we expect to invest another $100 billion
to install the remaining 90 GW.
”
He added that in order to attract investment from India, the government has strengthened power purchase agreements
that cannot be renegotiated.
Another step is to appropriately share investment risks between developers and governments and establish sound payment security mechanisms
.
Speaking about green finance, the official said: "We know that getting green finance is not easy, although we are working to seek support from the World Bank to help with the Roof Program
.
We are trying to open a green window through IREDA to provide assistance to the relevant departments, which other financial institutions cannot provide
.
”
He added that to reduce the cost of venture capital, a payment security mechanism is needed, and to maintain this, the government needs to establish payment security within the tax range
.
He further added that they already have two bidders to build 3 GW of solar cells and 3 GW of solar module manufacturing
by 2021.
It is reported that the Indian government is preparing a tender to mix renewable energy and heat energy with a ratio of 51:49
.
And as demand grows, the share of renewable energy in the hybrid energy mix will gradually increase
.
