Centre to raise share of renewable energy output in next five years.

The Centre wants to increase the share of renewable energy in total energy production in the country in the next five years.

In an informal chat with presspersons on the sidelines of a review meeting in Mangaluru recently, Upendra Tripathy, Secretary to the Union Ministry for New and Renewable Energy, said that the intention of the government is to increase the share of renewable energy in the total energy production from the existing 6.9 per cent to 15 per cent in the next five years.

In this regard, the Government had organised an investors’ meet in New Delhi from February 15-17. He said 293 companies that participated in the event have promised their commitments to renewable energy projects. These companies are likely to set up capacities to produce around 266 GW (gigawatts) of power in the next five years.

Banks in the country are ready to finance around 76 GW of renewable energy projects, he said.

All the stakeholders, including investors, banks and state governments will work together to increase the production of renewable energy in the country.

State-wise meetings of these stakeholders will be held in the country to highlight the potentials available in those states. To begin with, Punjab will host a meeting of these investors soon. This will be followed by Andhra Pradesh, he said.


HBL