Renewable energy to contribute 21 percent for demanded electricity

As per Central Electricity Authority’s National Electricity Plan, contribution of renewable energy sources is estimated to be around 21 percent of the total electricity demand of the country in the year 2021-22 and 24 percent by 2026-27.

The major efforts being taken by the Government to meet the targets of renewable energy in the country, inter-alia, include permitting Foreign Direct Investment (FDI) up to 100 percent under the automatic route, strengthening of Power Purchase Agreements(PPAs), mandating requirement of Letter of Credit(LC) as payment security mechanism by distribution licensees for ensuring timely payments to RE generators, setting of Ultra Mega Renewable Energy Parks to provide land and transmission on plug and play basis to investors , waiver of Inter State Transmission System (ISTS) charges and losses for inter-state sale of solar and wind power for projects to be commissioned by 31^st December, 2022, notification of standard bidding guidelines to enable distribution licensee to procure solar and wind power at competitive rates in cost effective manner, declaration of trajectory for Renewable Purchase Obligation (RPO) up to the year 2022, laying of transmission lines under Green Energy Corridor Scheme for evacuation of Power in Renewable rich states, launching of new schemes, such as, PM-KUSUM, Solar Rooftop Phase II, 12000 MW CPSU Scheme Phase II, etc.

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