India to add 10,000MW renewable energy capacity in FY20: Report

This rise is owing to the large-sized capacity addition in the wind and solar power segments during this period, driven by policy support from central and state governments as well as the significantly improved tariff competitiveness of wind and solar power vis-a-vis conventional power sources

PTI
Mumbai, Publish Date: Dec 12 2018 1:17AM | Updated Date: Dec 12 2018 1:17AM
India to add 10,000MW renewable energy capacity in FY20: ReportRepresentational pic

With the share of renewable energy (RE) in the overall generation mix rising across India, rating agency Icra expects a capacity addition of 10,000 MW in fiscal year 2020, and has maintained a stable outlook for the sector.

The share of renewable energy in the generation mix has increased from 5.6 per cent in FY2015 to 7.8 per cent in FY2018.

"This rise is owing to the large-sized capacity addition in the wind and solar power segments during this period, driven by policy support from central and state governments as well as the significantly improved tariff competitiveness of wind and solar power vis-a-vis conventional power sources," it said.

Icra group head - corporate ratings SabyasachiMajumdar said the project awards by the central nodal agencies and state distribution utilities in 2017 and 2018 (year-to- date) provide a reasonably healthy visibility for RE capacity addition in FY2019 and FY2020 with expected addition of about 9,000 MW in FY2019 and about 10,000 MW in FY2020.

"This is expected to increase the share of RE in the all India generation to 10 per cent by FY2020 and further to 13 per cent by FY2022 based on capacity addition forecasts. We have maintained a year-end stable outlook for the domestic renewable energy sector," he added. 

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