India might miss 2022 renewable energy goal
POWER & RENEWABLE ENERGY

India might miss 2022 renewable energy goal

India has often talked about curbing emissions and increasing forest cover to make progress toward the pledges under the Paris climate change accord. However, has not spoken much about renewable energy.

The pandemic has halted work and projects resulting in more obstacles and lesser chances of achieving the goal to increase renewable energy capacity to 175 GW by 2022. Solar and wind energies make a total of 160 GW and India can fall 36% short of achieving the target.

These numbers shed light on the structural problems faced by India towards decarbonization. The domestic power suppliers controlling almost 90% of electricity transactions struggle to handle losses creating more debt. Which further impacts their ability to purchase sufficient power to service customers, leading to deferred payments to power producers and curbing the overall growth in India.

Financial distress among the state retailers is one of the major reasons for the set target to seem out of reach. Several projects that had been auctioned by the federal government struggled to find buyers. Approximately one-fourth of wind projects which were awarded in auctions failed to take off because of problems related to distribution utilities.

According to Deloitte Touche Tohmatsu Debasish Mishra, the country needs to stop its dependency on state power distribution companies for the expansion of green capacity. If the dependency persists the climate targets will be at risk.

Image Source

India has often talked about curbing emissions and increasing forest cover to make progress toward the pledges under the Paris climate change accord. However, has not spoken much about renewable energy. The pandemic has halted work and projects resulting in more obstacles and lesser chances of achieving the goal to increase renewable energy capacity to 175 GW by 2022. Solar and wind energies make a total of 160 GW and India can fall 36% short of achieving the target. These numbers shed light on the structural problems faced by India towards decarbonization. The domestic power suppliers controlling almost 90% of electricity transactions struggle to handle losses creating more debt. Which further impacts their ability to purchase sufficient power to service customers, leading to deferred payments to power producers and curbing the overall growth in India. Financial distress among the state retailers is one of the major reasons for the set target to seem out of reach. Several projects that had been auctioned by the federal government struggled to find buyers. Approximately one-fourth of wind projects which were awarded in auctions failed to take off because of problems related to distribution utilities. According to Deloitte Touche Tohmatsu Debasish Mishra, the country needs to stop its dependency on state power distribution companies for the expansion of green capacity. If the dependency persists the climate targets will be at risk. Image Source

Next Story
Resources

Madhya Pradesh Champions Inclusive Tourism at Heritage Sites

On the occasion of World Heritage Day, Madhya Pradesh is taking a significant step toward inclusive tourism by making its historical sites accessible to all — especially persons with disabilities. The state is rolling out its ‘Accessibility Infrastructure and Development’ project at Maheshwar, Mandu, Dhar, and Orchha, aiming to create a more welcoming experience at these iconic cultural destinations.The initiative, under the leadership of Chief Minister Dr Mohan Yadav and Tourism Minister Shri Dharmendra Bhav Singh Lodhi, includes infrastructure upgrades such as ramps, Braille signage, w..

Next Story
Resources

Runwal Realty Onboards Sonam Kapoor as Brand Ambassador

Real estate major Runwal has unveiled a refreshed identity as Runwal Realty, signalling a renewed commitment to crafting spaces that stand the test of time. With this refresh, the brand unveils its new philosophy: “Building for Generations to Come” and welcomes Bollywood star and global fashion icon Sonam Kapoor as its brand ambassador. This evolved identity reflects Runwal Realty’s commitment to creating not just homes, but heirlooms—crafted through visionary design, meticulous planning, global design expertise and an unwavering focus on quality. With the customer at its core, each de..

Next Story
Infrastructure Urban

Emerging Trends in Infrastructure and Transport 2025: KPMG

KPMG’s latest report, The Great Reset: Emerging Trends in Infrastructure and Transport 2025 edition, sheds light on the profound changes transforming the global infrastructure landscape. As industries adapt to the challenges posed by climate change, economic pressures, and technological advancements, the report identifies key trends and provides actionable insights for leaders in infrastructure and transport sectors. “In today’s interconnected world, the lack of standardized supply chain practices is not just an operational challenge—it’s an environmental and economic one. We’..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?