State-run Indian Renewable Energy Development Agency (IREDA) has provided loans worth ₹3,293.47 crore for six wind energy projects across 4 States, Parliament was informed today.

According to the data provided by Power and New & Renewable Energy Minister R K Singh in Lok Sabha in response to a query, the clean energy sector lender has provided loans to two wind energy projects each in Andhra Pradesh and Gujarat, while loans have also been awarded to one project each in Madhya Pradesh and Rajasthan.

The wind power projects are set up mostly by private developers based on techno-economic viability of the project, Singh informed the lower house in response to another query.

Renewable energy tariffs

The country has witnessed record low renewable energy (RE) tariffs of ₹1.99 per KWh for solar power and ₹2.43 per Kwh for wind power which are quite favourable as compared to tariff of electricity produced from non-renewable energy sources.

The steep fall in average tariff for solar and wind power in recent years has resulted in substantial savings to government exchequer. Furthermore, RE generation from various sources has resulted in savings of estimated 1372.72 million tonnes (mt) of CO2 emissions for the country between FY18 to FY23 (up to December 2022).

As of December 2022, wind energy projects of 41,929 megawatts (MW) have been commissioned in the country. The energy generated from wind energy projects is 59.53 billion units (BU) during April-December, 2022.

Overall, a total of 167.75 gigawatts (GW) of RE capacity has been installed in the country as of December 2022, which includes 63.30 GW of solar power, 46.85 GW large hydro, 10.73 GW bio power, 4.94 GW small hydro power and 6.78 GW of nuclear power.

Further, projects of 78.75 GW capacity are under various stages of implementation and 32.60 GW capacity are under various stages of bidding.

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