India’s solar target of 20,000 MW by 2022 in Trouble?

- Advertisement -

Monday, December 02, 2013: India’s ambitious Jawaharlal Nehru National Solar Mission that has set a target of 20,000 MW solar energy capacity by 2022 is facing issues. A senior government official told Business Standard on condition of anonymity that the reasons are poor financial health of power distribution companies and funding issues.

Tarun Kapoor, Joint secretary, Ministry of New and Renewable Energy (MNRE) told PTI, “We believe the 20,000 MW target is achievable. But it will not be easy as there are several challenges like inadequate transmission network, financial ability of discoms, among others.”

Project developers are seriously concerned about the sad financial position of state electricity boards despite the government having added debt restructuring package for distressed power distribution companies (discoms).

- Advertisement -

Kapoor added that the the lack of transmission network to evacuate solar power is a major hurdle.

“Setting up a transmission network is not an easy task. There are several challenges associated with it. There are concerns over funding in setting up solar plants, as banks are a little reluctant to fund such projects,” Kapoor said.

However, the government is working on developing the solar energy segment. There are plans to set up ultra mega solar projects (UMPPs), with a capacity of about 4,000 MW, in separate parts of the country.

Ground work has already commenced for the country’s first solar UMPP in Rajasthan. It would be developed by a joint venture — Bhel (26 per cent), Solar Energy Corp (23 per cent), Power Grid Corp, Satluj Jal Vidyut Nigam and Hindustan Salts (16 per cent each) and Rajasthan Electronics and Instruments (REIL) (3 per cent), added the report.

“The joint venture (agreement) will be signed in December. The joint venture firm will then float the tenders,” Kapoor added.

- Advertisement -

Most Popular Articles

Exclusive

Report Suggests India’s EV Sales Will Surge, Rising 66% In 2024

0
In 2023, sales of electric vehicles (EVs) in India almost doubled due to increased consumer interest, government actions, better infrastructure, and climate change worries....

Ascend Performance Materials: Pioneering Innovation in the Electronics Sector

0
Bridging material advancements in plastics and technological progress, Ascend leads with customised solutions for a safer, reliable and greener tomorrow. Q. How would you explain...

DigiKey Expands Portfolio With 3PEAK

0
This collaboration adds amplifiers, interface components, data converters, and more, catering to industries such as communication, industrial, medical, and automotive.  In a strategic move aimed...

Buzz

CleanMax Alliance With Apple To Boost Renewable Energy In India

0
These installations are anticipated to reduce approximately 207,000 tons of CO2 emissions over their operational lifespan. CleanMax announced a significant joint venture with technology giant...

Ramkrishna Forgings To Supply Powertrain Parts To Top US Electric Carmaker

0
Indian producer of rolled, forged, and machined products enter the US electric vehicle market for the first time. Ramkrishna Forgings, an Indian supplier of rolled,...

Microsoft’s $1.5B AI Venture In UAE Stirs Global Interest

0
New partnership with G42 promises transformative AI advancements in emerging markets, impacting tech and geopolitics. Microsoft has announced a strategic $1.5 billion investment in UAE-based...

Important Sectors

CleanMax Alliance With Apple To Boost Renewable Energy In India

0
These installations are anticipated to reduce approximately 207,000 tons of CO2 emissions over their operational lifespan. CleanMax announced a significant joint venture with technology giant...

Ramkrishna Forgings To Supply Powertrain Parts To Top US Electric Carmaker

0
Indian producer of rolled, forged, and machined products enter the US electric vehicle market for the first time. Ramkrishna Forgings, an Indian supplier of rolled,...

Tesla Power, E-Ashwa To Introduce India’s First EV With Fire Safety Tech

0
The partnership also expands to include the provision of after-sales support for electric vehicle customers by establishing a comprehensive network of sales and service...

Elektrobit Introduces EB zoneo GatewayCore Featuring Infineon’s AURIX TC4x

0
The EB zoneo GatewayCore is designed to connect hardware-dependent accelerators with the Classic AUTOSAR framework, providing adaptable support for intricate routing scenarios. Elektrobit, a premier...

Raptee’s Cell Chemistry Extends Battery Life, Says Dinesh Arjun

0
The Co-founder and CEO of Raptee disclosed that the company is currently sourcing its cells from a variety of countries. Dinesh Arjun, the Co-founder and...

Manufacturing

Ramkrishna Forgings To Supply Powertrain Parts To Top US Electric Carmaker

0
Indian producer of rolled, forged, and machined products enter the US electric vehicle market for the first time. Ramkrishna Forgings, an Indian supplier of rolled,...

AVL And Red Bull To Create High-Density Fuel Cell Technology

0
The advanced technology, featuring ultra-high power density and a lightweight design, is said to be two-thirds lighter than traditional fuel cell systems. This partnership...

JJG Aero Secures $12 Million Investment From CX Partners

0
The Bengaluru-based aerospace components manufacturer intends to use the funds primarily to enhance vertical integration, increase production capacity at the new site, and support...

Tata Electronics Finalizes Semiconductor Agreement With Tesla

0
Ashok Chandak, the head of the India Electronics and Semiconductor Association (IESA), highlighted that Tesla’s initiative to establish a network of domestic suppliers for...

Sterling Tools Targets 40% of Sales from EV Business by FY25

0
This increase is anticipated to come from the EV business segment, which is integral to the company's strategy to diversify its operations. With a certain...