India committed to 175 GW renewable energy target, says environment ministry official

India is committed to its renewable energy target of having 175 GW capacity by 2022 to provide equitable sustainable development, a senior official has said. India has been pursuing its goals of setting up renewable energy capacities and changing its energy mix, and will continue to do so to provide equitable sustainable development, C K Mishra, Secretary, Ministry of Environment, Forests and Climate Change said in a statement.

Mishra was speaking during a panel discussion organised by Ministry of New and Renewable Energy (MNRE)and CII on ‘Innovative Financing and Market Evolution to achieve 175 GW Renewables by 2022’ at CoP (Conference of the Parties) 23, Bonn, Germany yesterday. Speaking about the government’s interventions, P C Maithani, Adviser, MNRE said policies are being drafted on a continuous basis to address challenges as the market evolves.

Giving examples of how the question is no longer about availability of finances but that of cheap finances, K S Popli, CMD, Indian Renewable Energy Development Agency Ltd (IREDA) said the markets have matured and one indicator of that is seen in how the bond markets have progressed. Ajay Mathur, DG, The Energy and Resources Institute (TERI) stressed upon the need to push for higher research in storage technology which could compliment the infirm renewable power. Read more…