The forecast by Bloomberg New Energy Finance, the energy research unit of information company Bloomberg, expects some USD 7.8 trillion to be invested globally in renewables over the period, compared with USD 1.2 trillion for new coal plants - largely in India and other Asian emerging markets.
Helped by policy initiatives and early stage private investments in solar and wind power, the renewable energy sector has for the first time surpassed the hydro power generation
The Compensatory Afforestation Fund (CAF) Bill, which aims to pave the way for "unlocking" of Rs 41,000 crore earmarked for forest land, would be passed in the upcoming session of the Parliament, Power Minister Piyush Goyal said on June 3
India was fifth in terms of investment in renewable power and fuels in 2015 after China, US, Japan and Britain, said the Renewables Global Status Report prepared by REN21, a group of energy experts, government representatives and NGOs.
British Indian magnate Sanjeev Gupta's Liberty House Group unveiled plans for a new steel super-plant powered by renewable energy in the UK
The power ministry plans to achieve 100 GW of solar power capacity by 2022, whereas, the installed capacity of solar power in India has crossed just 6 GW in April 2016.
Moneycontrol decided to log onto the link available on the website of the Ministry of New and Renewable Energy and see how it works.
The company, together with all its subsidiaries and jointly-controlled entities, has an installed generation capacity of 9,184 mw as of May 2016 as against 8,750 mw in the year-ago period from various fuel sources such as thermal, hydroelectric power, renewable energy and waste heat recovery, the company said in a statement.
Mytrah also said in a statement extensive progress has been made on additional wind project construction, with 90 MW erected and expected to be commissioned later this year, and a further 87 MW planned before mid-2017, taking capacity to 1000 MW.
"The Union Cabinet chaired by Prime Minister Narendra Modi was apprised of a General Framework Agreement (GFA) on Renewable Energy Cooperation between India and United Arab Emirates (UAE)," the Ministry of New and Renewable Energy said in a statement.
For FY17, the company already has bookings for turbines that can generate 750 MW.
State-run NTPC today said power generation has started from its 200 mw NP Kunta ultra mega solar power project at Anantapur in Andhra Pradesh.
In a chat with moneycontrol.com, Dr Gopichand Katragadda, Group Chief Technology Officer at Tata Sons, explains why India and China should look past cost advantages and seriously focus on innovation.
The valuation of the wind power firm is pegged at Rs 4,000 crore and if talks with two players go through, it may be one of the largest deals in the renewable energy space, reports CNBC-TV18's Navin Shetty.
According to the statement, the company will commission the project within 13 months from the date of signing of the PPA with Solar Energy Corporation of India (SECI). The project will generate approximately 7,500 million units during its 25 years tenure and supply power to AP Discom through SECI.
Renewable energy projects have received Rs 86,000 crore investment, most of it from private sector, in the last three years with Madhya Pradesh at top garnering Rs 14,313.80 crore.
Government stopped tax-free bonds as it thinks that these would distort the market, he said. "Some are raising taxable bonds and some are raising tax-free bonds probably that is their (government) thinking." The CMD further said that 100 GW solar energy target is achievable.
A total of about 50 MW renewable energy capacity has been installed till date, including approximately 11 MW solar power and 37 MW wind power, Minister of State for Railways Manoj Sinha said in a written reply.
Last week, SunEdison filed for bankruptcy protection in the Bankruptcy Court for the Southern District of New York.
Tata Power has decided to increase the share of its renewable energy output to 30-40 percent by 2025, up from its earlier target of 20 percent, a top company official has said.
Prakash Javadekar added that India has launched the world's largest renewable program and reserved a "very small" part of it for Indian manufacturers.
The Indian delegation included K S Popli, CMD of the Indian Renewable Energy Development Agency Limited (IREDA) and Taranjit Singh Sandhu, Deputy Indian Ambassador to US.
The renewable energy sector has witnessed a record capacity addition of 6.9 GW during FY2016, which was driven by sizeable capacity addition in both the wind and solar energy segments, which stood at 3.3 GW and 3 GW respectively.
Piyush Goyal informed investors that the Indian Renewable Energy Development Agency is coordinating a billion-dollar equity fund, perhaps the largest in renewable space.
The government has floated tenders for 21 GW of solar energy this year, says Minister of Power and Coal Piyush Goyal, adding that so far 10,000 contracts have been awarded on public private partnerships.