Economy

India’s renewables growth halved to 5.62 GW in 2020

Our Bureau New Delhi | Updated on May 11, 2021

The government has set a capacity addition target of 14,380 MW for this fiscal   -  istock/imacoconut

Ongoing second Covid wave has made capacity addition uncertain

India’s renewable capacity addition fell almost 50 per cent year-on-year to 5.62 GW in 2020, according to a new report by the International Energy Agency.

“The Covid-19 impact on renewable energy deployment has affected India more than any other country,” the IEA said. The 5.62 GW figure includes large and small hydropower.

“Although new records for renewable capacity expansion are expected to be set in 2021 and 2022 as delayed projects from previous competitive auctions are commissioned, the current (April 2021) surge in Covid-19 cases has created short-term forecast uncertainty,” it added.

The financial health of distribution companies remains the primary challenge to renewable energy deployment in India, the report said.

India currently has a renewable capacity of around 95 GW, including small hydro and biomass. IEA has forecast that India will add 17 GW renewable capacity in 2021, but the ongoing second Covid wave has made that uncertain.

Published on May 11, 2021

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