India to be the largest contributor to the renewable resource by 2021

By Bharati Kumari

The year, 2021 to meet the ambitious target of 175 GW of clean energy capacity, India will be more prolific in its approach to lay additional investments worth Rs 1.75 lakh crore for having 35 GW of renewable power generation capacity.

The country has a total installed renewable energy capacity of 90 GW, so far. This includes 39 GW of wind and 37 GW of solar generation capacity.

Around 50 GW of renewable energy capacity is under construction and there is also a strong pipeline of 30 GW for new bids.

India needs to design advanced tenders with the inclusion of wind, solar and energy storage to warrant that renewable can replace fossil fuels to a great extent, according to Director General of Solar Power Developers Association Shekhar Dutt.

The year has been challenging for the renewable energy sector but the industry has been able to stand firm the mess caused by the pandemic with support of the government.

In November, Prime Minister Narendra Modi said there are huge renewable energy deployment plans for years ahead.” These are likely to generate business prospects of the order of around 1.5 lakh crore rupees or USD 20 billion per year. This is a big opportunity to invest in India”.

About increasing the share of renewables in the nation’s balancing energy, the minister said that India already has 38 per cent installed electricity generation capacity (140 GW) coming from clean energy and that the 40 per cent target will be outshone in 2021. India has set an epitome subject of having 450 GW of clean energy by 2030.

The International Energy Agency’s (IEA) latest report ‘Renewables 2020′ predicts the impact of COVID-19 on the renewable sector.

The renewables used for generating electricity will grow by 7% in 2020, which is in a huge difference to other fuels. While the global energy demand is set to decline by 5%, increasing access to the grid and the continuous installation of new projects point to strong renewable electricity growth.

India would be the largest contributor to the renewable ascend in 2021, and the country’s annual additions are expected to double in 2021 compared to 2020. Many projects are expected to become operational in 2021, which will lead to growth next year.

The International Energy Agency’s IEA, in its recently published ‘World Energy Outlook 2020’ report, suggested that the global energy demand is set to drop by 5% in 2020, energy-related CO2 emissions by 7%, and energy investment by 18% because of the COVID-19 pandemic.

Siemens Gamesa Renewable Energy, the second biggest manufacturer of wind turbines in the world, expects India to add between 7,000 and 10,000 megawatts (MW) of wind energy capacity in 2021, its global chief executive said, despite a slump in projects over the last two years.

“Siemens Gamesa CEO for India, the new machine is an important element in the company’s strategy and it is entering the Indian market at the right time.” Navin Dewaji said.

In India, Siemens Gamesa has two blade factories in Nellore in Andhra Pradesh, and Halol in Gujarat, a nacelle factory in Mamandur in Tamil Nadu and an operations and maintenance centre near Chennai. The company also has a Research & Development centre in Bangalore where it employs over 100 engineers.

Global wind turbine major Siemens Gamesa Renewable Energy will start making the 3.4 MW wind turbine at its Indian plant in Tamil Nadu, said a company official. The new machine will be the highest capacity wind turbine in India will be manufactured at its Indian plant in Tamil Nadu early 2021.

Most recently, Greece Approves €2.02 Billion for Developing 2.81 GW of Renewable Energy Projects.

Greece’s Interministerial Strategic Investment Committee approved an investment worth €888.13 million (~$108.59 million) for Egnatia Group to develop 1.5 GW of solar projects across 12 regional units in Central and Northern Greece.

The committee also approved an investment worth €421.60 million (~$515.72 million) for Karatzi SA to build and operate 37 solar projects with a cumulative capacity of 830 MW. These projects would be developed in Larrisa, Magnesia, and Kilkis.

Terna Energy will be provided €585 million (~$715.65 million) to develop 18 wind projects with a total capacity of 360 MW in the Karystos municipality. These projects will be connected with the National Electricity Transmission System through a 69-kilometre long submarine cable.

Five other wind projects with a total capacity of 120.3 MW, with an investment worth €121.28 million (~$148.41 million), have been approved for Kamaridis GlobalWire.

With the influence of Covid-19 on a moderate fade and higher visibility of vaccine availability, 2021 assures to be a lively year for the renewable sector.

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