US joins India’s ambitious renewable energy plans

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The United States Agency for International Development (USAID) and the US International Development Finance Corporation (DFC) have decided to pump in millions of dollars to bolster India’s renewable energy programme, which is acquiring international traction. </p>
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"USAID and DFC are jointly sponsoring a USD 41 million loan portfolio guarantee to help finance investments by Indian small and medium enterprises (SMEs) in renewable energy solutions, including rooftop solar installations. These loans will enable SMEs to access reliable power and cut costs."</p>
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“Investments in solar solutions, secured by these credit guarantees, will improve access to clean, steady, and affordable energy as well as further progress towards India's clean energy transition and climate change mitigation,” USAID/India's Acting Mission Director Karen Klimowski said.</p>
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Analysts say that India’s advancements in renewable energy as part of the national energy mix has begun to turn heads across the globe.</p>
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So what  are salient features of India’s renewable energy roadmap? Here are a few pointers:</p>
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India has the capacity to produce 38% of installed electricity generation from renewable sources. By 2019, India was ranked fifth in wind power, fifth in solar power and fourth in renewable energy installed capacity.</p>
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<strong>Government initiatives</strong></p>
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India is running one of the largest and most ambitious renewable capacity expansion programs in the world. In 2019 at UN climate summit, India announced that it will be more than doubling its renewable energy target from 175GW by 2022 to 450GW of renewable energy by the same year.</p>
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In the Paris Agreement, India is committed to a intended nationally determined contribution to achieve 40% of its total power generation from non-fossil fuel sources by 2030. According to the Central Electricity Authority's strategy, India is aiming for an even more ambitious target of 57% of total electricity capacity from renewable sources by 2027.</p>
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The government had targeted to install 20 GW of solar power by 2022, but this was achieved four years earlier through solar parks as well as roof-top solar panels in January 2018.</p>
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In terms of meeting its ambitious 2022 targets, as of 31 March 2017, wind power was more than half its target, while solar power was less than 13% of its higher ambitious target, although a dramatic expansion is expected in the near future.</p>
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<strong>Renewable electricity generation</strong></p>
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The total renewable energy, which includes hydropower with large storage generation , is nearly about 17.5% of the total utility electricity generation in India during the year 2017-18.</p>
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<strong>Hydroelectric power</strong></p>
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India is ranked 5th globally for installed hydroelectric power capacity. As of 31 March 2020, India's installed utility-scale hydroelectric capacity was 45,699 MW and 12.35% of its total utility power generation capacity.</p>
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<strong>Wind power</strong></p>
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The development of wind power started in India in the 1990s and has grown considerably in the last few years. The largest wind farm of India in Muppandal, Tamil Nadu. As of 30 June 2018, the installed capacity of wind power in India was 34,293 MW, mainly spread across Tamil Nadu (7,269.50 MW), Maharashtra (4,100.40 MW), Gujarat (3,454.30 MW), Rajasthan (2,784.90 MW), Karnataka (2,318.20 MW), Andhra Pradesh (746.20 MW) and Madhya Pradesh (423.40 MW) Wind power accounts for 10% of India's total installed power capacity.</p>
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<strong>Biomass</strong></p>
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India is an ideal environment for biomass production given its tropical location, sunshine and rains. India's vast agricultural potential provides agro-residues, which can meet energy needs in both heat and power applications. According to IREDA "Biomass is capable of supplementing the coal to the tune of about 260 million tonnes", which is equivalent to saving about 250 billion rupees every year.</p>
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Related link: <a href="https://www.business-standard.com/article/current-affairs/usaid-dfc-announce-41-million-financing-for-renewable-energy-in-india-121031800508_1.html">USAID, DFC announce $41 million financing for renewable energy in India</a></p>