The fiscal year 2021-22 appears to have started off on a positive note for the renewable energy sector as the first two months saw more than 1.2 GW of new capacity added to the grid amid challenges faced by the developers in the sector.
The total installed renewable power capacity in the country increased to 95.66 GW as on May 31, 2021. This included 41.09 GW of solar capacity, 39.44 GW of wind power capacity, 10.34 GW of bio-power, 4.79 GW of small hydro power capacity, according to data from the Union Ministry of New and Renewable Energy.
MNRE says 50.89 GW worth of projects are at various stages of implementation, while projects for a capacity of 29.52 GW are under various stages of bidding. About 3,156 MW of renewable energy tenders were issued in May 2021 alone.
“Capacity addition to overall power generation in the first two months of the current financial year (April-May ‘21) has been the highest in the last four years when compared for the same months in the previous years. During April-May period of FY22, 1.2 GW of new generation capacity was installed, and this was solely contributed by renewable energy viz. solar and wind power,” says CARE Ratings.
Solar and wind
Capacity addition in solar and wind power segments in the first two months of FY22 has been double that of the same months of FY21. One GW of fresh solar power capacity was installed, and 0.2 GW fresh capacity was added by the wind sector.