Amid some continuing challenges for developers, there is cheer on the renewable energy front as the new capacity addition during the first quarter of this fiscal hit a historic high.
During April-June 2021 period, the renewable energy sector added new capacity of 2,522 MW, which is reported to be the highest-ever quarterly addition in the sector. The previous highest was during April-June 2019 period when it added 2151 MW. In the year-ago period, which was hit by an all-India lockdown, the segment added just 592 MW of capacity.
Solar continues to be the major driver of new capacity as the segment added 2,249 MW during Q1 of this fiscal, while the wind power segment added 240 MW. The increase in new capacity addition comes at a time the government is trying to facilitate faster capacity addition as it has set an ambitious target of 175 GW to be achieved by the end of 2022.
As of June 30, 2021, the total grid-connected capacity of renewables stood 96.96 GW. Of this, the solar power segment accounts for 42.33 GW, followed by wind power at 39.49 GW and bio power at 10.34 GW. Small hydro segment accounted for 4.79 GW.
Meanwhile, a capacity of 50.35 GW (includes about 37 GW of solar and 9 GW of wind) is under various stages of implementation and a capacity of 25.16 GW is under various stages of bidding.