Thursday, November 3, 2016

Make in India - Renewable Energy and Related Equipment - $20 Trillion Economy Opportunity

The government is playing an active role in promoting the adoption of renewable energy resources by offering various incentives, such as generation- based incentives (GBIs), capital and interest subsidies, viability gap funding, concessional finance, fiscal incentives etc.

The National Solar Mission aims to promote the development and use of solar energy for power generation and other uses, with the ultimate objective of making solar energy compete with fossil-based energy options.

The objective of the National Solar Mission is to reduce the cost of solar power generation in the country through long-term policy, large scale deployment goals, aggressive R&D and the domestic production of critical raw materials, components and products.

Renewable energy is becoming increasingly cost-competitive compared to fossil fuel-based generation. Setting up of renewable power plants is becoming economically feasible and justifiable for private businesses without any social subsidies.

       Wind energy equipment prices have fallen dramatically due to technological innovation, increasing manufacturing scale and experience curve gains.

        Prices for solar modules have declined by almost 80% since 2008 and wind turbine prices have declined by more than 25% during the same period.

The government has created a liberal environment for foreign investment in renewable energy projects. The establishment of a dedicated financial institution – the Indian Renewable Energy Development Agency, makes for renewed impetus on the promotion, development and extension of financial assistance for renewable energy and energy efficiency/conservation projects.

Government of is calling for setting up 100 GW of solar power and 100 GW of wind power by 2022.

Come people with entrepreneurial interest - understand the opportunity and initiate steps to realize your dream.

First Seminar on Renewable Opportunity in India was organized on 15th February 2015.

Prime Minister Narendra Modi's Inaugural Speech at ReInvest

Ministry of Information and Broadcasting

Valedictory Speech of Shri Piyush Goyal, Minister of Power

Bharatiya Janata Party

Related Sectors

Make in India - Electrical Machinery

Make in India - Thermal Power - $20 Trillion Economy Opportunity

News Related to Make in India - Renewable Energy and Related Equipment

October 2016

 The Centre is planning a 210 billion-rupee ($3.1 billion) package of state aid for India’s solar panel manufacturing industry, giving a boost  to  'Make In India' campaign in the sector.

11 Feb 2015

Adani group entered into an agreement with Rajastan Govt. to set up 10,000 MW (10 GW) solar power park. It will require $10 billion investment.
Adani group has entered into collaboration with SunEdison Inc. to jointly invest $4 billion in solar panel manufacturing in Mundra, Gujarat. This business will supply panel to Rajastan power park.
Govt. plan is generate 100 GW of solar power by 2022 by setting up 25 parks each with capacity above 500 MW.

8 April 2015

Power and Coal Minister said at CII National Conference 2015:  In the year 2019, power from thermal plants will be double of now at two trillion units, renewable energy will be five times of current at 300 billion units.  Coal output will increase to 150 billion tonnes (increase 1.5 times).

160 Giga Watts renewable energy will be installed by 2022 and $250 billion investment will be made.


Solar power addition target for 2015 - 16  1.4 Gigawatts
Added so far 827.22 MW
Cumulative installation: 4.579 GW

1 Jan 2016

Govt. made allocation of rs. 5000 cr. to provide subsidy to non corporate roof top solar power production. This will support 4,200 MW. TOTAL TARGET IS 40,000 MW. Rest will come from corporates.

15 Feb 2016

Coal, Power & Renewable Sectors to Provide an Oppourtunity of One Trillion Dollar Investment by 2030: Shri Piyush Goyal 

While speaking at Seminar on Power & Coal during Make in India Week in Mumbai today, Shri Piyush Goyal said, “The efforts of Government have ushered the power sector in a new level of growth altogether which provides for the sector a possible investment opportunity, between 2015 & 2020, a five year period, of about $ 250 billion.

When I extrapolate that to a 15 year programme until 2030 the coal, power and renewable sector alone provides $1 trillion opportunity.
Infact the ADB has calculated a $ 2.3 trillion opportunity by 2035”.

He further added, “when I talk about $1 trillion investment by 2030, it’s a well defined area wise plan- what will go into transmission, what will opening of new mines, how will we bring technology into the coal sector, what will be our push towards energy efficiency, how are we going to bring in new coal generating plants which will be environmentally superior plants, what will we going to do about our gas based plants, how are we going to ensure the distribution sector works as a vibrant profitable business for the state discoms- all of these have been drawn out in great details. It provides great opportunity for the investors both in India and International.”

Talking about rural electrification, Shri Piyush Goyal said, “I am delighted that Prime Minister has taken up the task of rural electrification on mission mode and assured that in 1000 days (when he announced on 15th August 2015), there will be no village in this country without electricity access and I am even delighted to inform all of you that the ministry has taken the challenge to the next level and committed to the Indian that each of this 18,452 villages will be electrified in 730 days not the thousand days. Nearly one- third of the work is already done and as we speak about 5279 villages have already being electrified in last 10 months. By 31 March 2016, we expect over 6500 villages to be electrified and by 31st March 2017, our efforts will be to almost to electrify 80 to 90% unelectrified of villages across the country. By 2019, the effort is to ensure that every home gets electricity connection, most of them through the grid some of them through distributed energy and micro grids.”

Shri Piyush Goyal said that our global share of LED consumption has gone up from 0.1% to 12% in just 2 years on the global scale and the LED programme will save 100 bn units of electricity and $6.5 bn every year for consumers.

Shri Goyal stated that he is happy by the fact that India has surplus power and surplus coal because that is where we can ensure the success of our programmes to bring power to every individual, every business, ensure adequate power for our farmers and that’s the enabler which will help the Make in India programme to scale new heights of success and invite people from all across the world to come and invest in India, to come and enjoy the huge market demand that a billion plus aspirational Indians offer to the world.

(Release ID :136409)

18 February

Government announced in Budget of 2015-16, the target o 175 GW by 2022.At a capacity addition ability of 15 GW per year, 2025 vision can be 230 GW.

1 May 2016

Government confident of installing 10,500 MW solar power capacity in 2016 - 17. Shri Piyush Goyal, Energy Minister.

Updated 6 November 2016,  1 May 2016,  13 Mar 2016, 28 Feb 2016,   1 Jan 2016

27 Nov 2015,   8 April 2015,  22 Feb 2015, 14 Feb 2015

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