Union Minister for New & Renewable Energy Farooq Abdullah said that increasing renewable energy supply requires a favourable policy environment which can encourage private investment. He was inaugurating the National Workshop on ‘Grid Integration of Renewable Energy Sources and Energy Efficiency' in Delhi.
He said that in India much of the renewable energy development-especially that which is grid-connected has taken place with private sector investment. There are issues such as effective integration of renewable energy in the grid, use of smart grids, and a market design that fosters the further addition of renewable energy in the grid.
Explaining the efforts of the last decade, Farooq Abdullah said that in the last decade the renewable energy technologies have leapfrogged at the global level. A series of policy initiatives and technology improvements have helped create a substantial supply base of renewable energy. Renewable power excluding large hydro power (which is hydro power projects more that 25MW) represents around 13 percent of the total installed capacity of electricity generation on India.
Wind power is the fastest growing renewable source and it constitutes around 70 percent of the total renewable energy installed capacity in India. Our 12th five year plan proposals for the period 2012-2017 seek a capacity addition of 30 gw. A federal outlay of around $4 billion has been earmarked for undertaking renewable energy activities during the next 5 years.