India’s Renewable Energy Capacity Surges to 195,013 MW by 2024

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New Delhi: India’s renewable energy sector has seen a significant jump with its capacity escalating from 75,519 MW in March 2014 to 195,013 MW by June 2024, said minister of state for power Shripad Naik in a written reply in the Rajya Sabha. In parallel, the total installed power capacity has surged from 248,554 MW to 446,190 MW in the same period. The coal power sector also marked a substantial rise in capacity from 139,663 MW to 210,969 MW.

The nation has strengthened its power infrastructure by adding 195,181 circuit kilometers (ckm) of transmission lines, 730,794 MVA of transformation capacity, and 82,790 MW of inter-regional capacity. This expansion connects the entire country into a single grid operating at one frequency, capable of transferring 118,740 MW from one corner of the nation to another. This unification has transformed India into one of the world’s largest unified grids and a single integrated power market, enabling distribution companies to buy power at the most competitive rates, thereby facilitating lower electricity tariffs for consumers.

Looking ahead, India is committed to significantly increasing its non-fossil fuel-based power generation capacity to over 500,000 MW by 2031-32. The implementation of this ambitious goal involves a phased transmission plan that aligns with renewable energy capacity additions.

In a move to boost sector viability, the government has managed to reduce aggregate technical and commercial (AT&C) losses from 22.62% in 2013-14 to 15.40% in 2022-23. Measures have also been implemented to ensure timely payments to generation companies, reducing legacy dues from Rs. 1,39,947 crore to Rs. 35,119 crore, and keeping subsidy payments to distribution companies up to date.

Significant progress has been made in rural electrification under the Deen Dayal Upadhyaya Gram Jyoti Yojana (DDUGJY), Integrated Power Development Scheme (IPDS), and the Pradhan Mantri Sahaj Bijli Har Ghar Yojana (SAUBHAGYA). These schemes have collectively electrified 18,374 villages and connected 2.86 crore households to electricity. Additionally, 2,927 new substations and 3,965 existing substations have been upgraded, with a substantial addition of 8.5 lakh circuit kilometers of high tension and low tension lines. As a result, power availability in rural areas has improved from 12.5 hours in 2015 to 21.9 hours in 2024, while urban areas now enjoy 23.4 hours of power supply.

Further enhancing the sector, the government has introduced several market mechanisms including Real Time Market (RTM), Green Day Ahead Market (GDAM), and Green Term Ahead Market (GTAM) to facilitate efficient power trading. These initiatives are complemented by the DEEP Portal for e-Bidding and e-Reverse Auction to optimize short-term power procurement by distribution companies.

The strategic establishment of Ultra Mega Renewable Energy Parks provides necessary land and transmission infrastructure to renewable energy developers, promoting large-scale project installations. Additionally, the SHAKTI policy ensures transparent and efficient domestic coal allocation, revitalizing various stressed thermal power projects across the country.

 

By : Saurav Anand

Source : ETEnergyWorld