A renewable energy (RE) capacity of 7591.99 MW has been commissioned up to December 2019, and another 34160 MW RE capacity is under various stages of implementation in the country, said Union Minister RK Singh on Tuesday.
The Minister of State (MoS) (Independent Charge) for New and Renewable Energy and Power said this in reply to a question in the Rajya Sabha today.
"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 8532.22 MW," Singh said.
He further said that most of the grid-connected RE projects are being implemented by the private sector developers, who were selected through a transparent bidding process.
Speaking about the investments made in the RE sector, he added, "Based on standard capital costs per MW, an investment of Rs 40459.99 crore is estimated to have been made in Renewable Energy sector in the year 2018-19. An investment of Rs 36729.49 crore is estimated to have been made in the year 2019-20 up to December 2019."
The Union Minister said that permitting foreign direct investments up to 100 per cent under the automatic route, strengthening of Power Purchase Agreements (PPAs), among others, have led to a boost in investments in the RE sector in the country.
( With inputs from ANI )