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The Confederation of Indian Industry (CII) partnered the Ministry of New and Renewable Energy (MNRE), Government of India to host a panel discussion on innovative financing and market evolution to achieve India’s target to install 175 GW installed renewable energy capacity by 2022, on November 16, 2017 at the India Pavilion at CoP23, Bonn, Germany.

The 175 GW target includes 100 GW solar, 60 GW wind, 10 GW bio-energy and 5 GW small hydro power (SHP). Proactive policies and concerted effort between all stakeholders have led to the installation of over 60 GW already.

The discussions included policymakers, industry leaders, financiers and multilateral agencies, and covered a number of issues including the major challenges to achieve India’s ambitious renewables target; ways to finance further generation as well as market development for large buyers as well as retail sales; easing offtake of the generated renewable power; creating a reliable distribution network to reach renewables into urban societies and rural communities, and driving transformative change through cleantech innovations.

The 175 GW target has been distributed between Indian states and Union Territories. To understand the policies and processes being employed by the states to achieve their individual targets, in 2016, NITI Aayog commission a study on ‘India’s Renewable Energy Capacity Addition Roadmap’, with CII as the knowledge partner. The Executive Summary of the report, covering 9 states and based on interactions with state energy departments; electricity regulatory commissions; generation, transmission and distribution companies; grid operators; power planning agencies; industry, financiers, and multilateral agencies, was launched at the session.

Courtesy: Ms Shuva Raha, Deputy Director & Head – New Initiatives, Energy Confederation of Indian Industry (CII)

Categories: Solar