Minister of new and renewable energy, R K Singh, on Tuesday said about 7,592 megawatt (MW) renewable energy capacity has been commissioned in the year 2019-20, up to December 2019.
“Another 34,160 MW RE capacity is under various stages of implementation. It is expected that renewable energy capacity addition in the year 2019-20 will exceed the capacity addition achieved in the year 2018-19, which was 8,532 MW,” he said while replying to a question in the Rajya Sabha.
The minister also added that most of the grid-connected RE projects in the country were being implemented by the private sector developers selected through a transparent competitive bidding process.
“Capital investment made by these developers is their privileged information. However, based on standard capital costs per MW, an investment of Rs 40,460 crore is estimated to have been made in the RE sector in the year 2018-19. An investment of Rs 36,729.5 crore is estimated to have been made in the year 2019-20 up to December 2019,” Singh added.
Replying the a question on the reasons for financial and operational inefficiencies of discoms, he said that the reasons were tariffs not being reflective of costs, delays in tariff filings, delays and non-release or partial release of subsidies released by states against the supplies made to subsidised categories, and high Aggregate Technical and Commercial loss levels, amongst others.
The minister informed that to ensure timely payment to renewable energy generators, the Indian Renewable Energy Development Agency, has been extending short-term securitised loans to discoms at preferential rates.
In the financial year 2019-20, IREDA has disbursed Rs 900 crore to Telangana, Rs 1,200 crore to Andhra Pradesh and Rs 450 crore to Tamil Nadu.