India’s renewable energy capacity likely to touch 120-125 GW by December 2022: ICRA

India’s cumulative renewable energy capacity is likely to be 120-125 GW by December 2022, aided by strong project pipeline in the utility solar and wind energy segments, according to rating agency ICRA.

The capacity addition in the renewable energy (RE) sector is expected to remain subdued at about 8 GW in FY2021 given the continued execution challenges amid Covid-19, because of disruption of supply chain as well as labour availability issues.

Interacting with the media over a webinar on Wednesday, Sabyasachi Majumdar, Senior Vice-President and Group Head – Corporate Ratings, ICRA, said: “The renewable energy-based capacity is likely to reach 120-125 GW by December 2022, with the solar capacity constituting 50 per cent of the overall capacity, followed by 38 per cent from the wind power segment and the balance from other sources.

While this is lower than the capacity target of 175 GW set by the Centre, the incremental capacity addition is estimated to be healthy at 33-38 GW, with investment outlay of more than ₹2-lakh crore over the next two-and-a-half years.”

the hindu businessline
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