India may miss renewable energy capacity of 175 GW target by over 50 GW: ICRA

 According to ICRA, even without Covid-19, India would have missed its intended renewable energy capacity of 175 GW target by over 50 GW. The missed execution for  2020-21 due to the pandemic is pegged at 4 GW.

According to ICRA, the capacity addition is expected to remain subdued at about 8 GW in 2020-21 given the continued execution challenges amid Covid-19, because of disruption of supply chain as well as labour availability issues.  An investment of Rs 2,000 billion over the next two years is expected in the renewable energy space, with an estimated capacity of 30 to 35 GW to be added. Although the utility-scale solar grid capacity of 60 GW is expected to be close to being fulfilled, the rooftop solar and wind targets are lagging behind. Though lower than the government’s target of 175 GW, the incremental capacity addition is healthy at 33-38 GW.

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