MADRID: Prakash Javadekar, Union Minister of Environment, Forest and Climate Change (MoEF & CC) on December 10 said that India is going to add 67 GW of solar energy capacity in next three years and is going to achieve 100 GW solar energy target in 2022.
While attending UN Climate Change Conference (COP25) the minister said that the country is witnessing a sharp fall in its prices due to the enhanced production. He added that the prices of solar energy used to be Rs 20 per unit and now it is just 10 per cent of it.
The Union Minister said five years ago India had just 3 GW of solar energy. “Today we have 33 GW of solar energy and it’s huge.” Urging the world to do away with fossil fuels, Javadekar said, “We have today 37 per cent energy capacity through renewables. We want to increase it because our energy demand is rising so we have decided to have 40 per cent of energy capacity through renewal energy i.e. a mix of solar, wind and bio-waste.”
As per the
minister, the country requires $500-700 billion in renewable energy and
supporting grid investment over the coming decade in order to meet its
renewable energy targets. India is set to reach 144 GW of renewable energy by the end of 2021-22 financial
year. India has a clear ambition to transition to a cheaper lower emission
electricity system, and that ambition is attracting healthy global investment,
added Javadekar.