Is there a need for a dedicated entity to deal with challenges in generation renewable energy in India? Comment (200 Words)
Refer - Financial Express
Enrich the answer from other sources, if the question demands.
IAS Parliament 3 years
KEY POINTS
· According to the CEEW Centre for Energy Finance, in 2021, Indian RE companies raised a record $5.9 billion through ‘green bonds’ from overseas debt markets.
· In spite of these positive signals, the task ahead remains herculean. Since 2016, the average rate of RE deployment in India has been around 10 GW per annum.
· This has to almost quadruple if renewables were to constitute at least 85 per cent of the government’s target of setting up 500 GW of clean energy capacity by 2030.
· Through the last decade, India has been at the forefront of adopting innovative approaches and solutions to boost the prospects of its renewable energy sector.
· Financially stressed electricity distribution companies find it difficult to increase the share of renewables in their portfolios. Only four states met or surpassed their renewable purchase obligation in 2019-20.
· Meeting the 2030 targets would require us to fast-track project development, improve implementation efficiency, strengthen procurement processes, and enhance transparency on RE resource potential and grid infrastructure.
· A dedicated entity, mandated to deal with these issues, could ensure coordinated and systematic development of projects.
· At COP26, India once again showed its commitment towards real climate action. In the 2022 Union Budget, India must back its ambition with actions. Success in creating enabling frameworks.
K. V. A 3 years
Kindly review
IAS Parliament 3 years
Good attempt. Keep Writing.
