India's renewable energy generation capacity will be 39 percent by 2029-30: Govt

According to a study carried out by Central Electricity Authority, the estimated electricity generation from renewable energy sources was assessed to be 39% of the total electricity generation by the year 2029-30.

New Delhi: India's electricity generation capacity from renewable energy has been assessed to be 39 per cent of the total electricity generation by the year 2029-30, the Government informed the Rajya Sabha on Tuesday. The information was shared by Union Minister of Power and New and Renewable Energy RK Singh in a written reply.

Singh further stated that the Government has taken several steps to promote renewable energy in the country to achieve the goal of 500 MW of non-fossil fuel capacity by 2030, in line with Prime Minister Narendra Modi's announcement at CoP26. He said that a study was carried out by the Central Electricity Authority with an objective to project the optimal generation capacity mix for 2029-30.

The minister further stated that the Government has taken several steps to promote renewable energy including Foreign Direct Investment (FDI) of up to 100 per cent under the automatic route. The government has also taken steps for setting up ultra mega renewable energy parks to provide land and transmission to RE developers on a plug-and-play basis, Singh said. "Government has issued orders that power shall be dispatched against Letter of Credit (LC) or advance payment to ensure timely payment by distribution licensees to RE generators," he added.