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RENEWABLE ENERGY 61 SANJITH. S. SHETTY VICE CHAIRMAN & MANAGING DIRECTOR, SOHAM RENEWABLE ENERGY INDIA PVT. LTD The quintessential RE Roadmap It is very heartening to note the stated RE goal is equivalent to over four times of our country’s annual defence spending, and over ten times the country’s annual spending on health and education. Earlier this year, the US had committed to support India’s efforts in the renewable energy sector with a $4 billion (Rs 26,702 crore) deal. India has also signed a Memorandum of Understanding (MoU) with Germany on availing concessional loans in the range of energetica INDIA · MAR16 one billion euro (over Rs 7,200 crore) over the next five years. We have an ambitious target for Renewable energy generation of 175 Gigawatt by 2022. Good thing is we have got off to a good start with nearly 12 GW likely to be installed by 2016 end, more than three times the current capacity. Of the target capacity, 100 GW would be from Solar power, 60 GW from Wind, 10 GW from Biomass and 5 GW from Small Hydro power, according to the Ministry of New and Renewable energy. In order to achieve the proposed capacity of 100 GW target by 2022, the overall investment required would be around Rs 600,000 crore ($89.88 billion) @ Rs 6 crore per MW at the present cost. Coupled with this is disturbing fact that round 300 million Indians lack access to electricity in our country where percapita electricity consumption is one-fourth of the world’s average The government’s investments may not necessarily be as capital but perhaps as subsidies and tax-free bonds. For example of the 100 GW target in solar power capacity, 40 GW would be from rooftop solar panels, an endeavour which the government has been supporting through the subsidy route. India with current electricity grid capacity of less than 300 Gigawatts, aims to increase its Solar installations from below 5GW now to 100GW by 2022 double the present Solar capacity of China and Germany, the two biggest Solar nations. The main problem I feel is in the Grid, which is outdated and needs to be extended and modernized, especially if it has to handle sometimes volatile supplies of Renewable energy. India’s Grid currently can handle 272GW in all, of which less than 30GW is from Renewable sources. While many see this RE Mission & Vision of Mr. Modi ji as a “Leap of Faith”, I reckon India will definitely succeed, even if it reaches the 100GW mark a few years late �� • Asia-Pacific will remain central in investment. • Electric cars, the next thriving industry. • Economical storage solution of electricity worldwide. • India will be the key to future global emission trend. • Renewable Energy to dominate the world. Most of the Asian nations including India are witnessing a rapid upsurge in electricity demand due to their economic and demographic expansion. Renewable sources of energy seem to be the best option to feed this demand supply gap. A lot has been predicted by Bloomberg New Energy Finance. Planet Earth will be in a changed state if world meets the goal as predicted. I feel, we as an individual should also take a vow to opt for sustainable living habit and make this world a better place to live ��


energetica-india-57_asiapowerweek
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