As the deadline of December 2022 for achieving 175 GW of renewable energy (RE) capacity draws closer, it is becoming clear that nothing short of an exponential jump in capacity addition would allow India to reach the target. With an installed RE capacity of 93 GW as of March 2021, there remains a deficit of 83 GW to be bridged, that too in merely 21 months. This has made the parliamentary Standing Committee on Energy ask the Centre to formulate strategies that speed up capacity installation.
Several factors have contributed to capacity addition lacking the required momentum, though in the last one year it is Covid-19 that has impacted project auctions, awards, and commissioning, affecting projects that were already facing economic pressures. As an emergency measure against the pandemic, a blanket extension of six months was granted to all projects that needed imports or were to be commissioned. Anuja Tiwari, Partner, Infrastructure and Energy at AZB & Partners, says, “for a host of reasons it appears we will be on the lower side of 75% of the 175-GW target”.
