Government has tendered 26 GW of renewable energy: IREDA Chairman

IREDA official further added that India is on the path to achieve 50 GW of energy production from renewable sources of energy.

Indian government has tendered 26 GW of renewable energy, Indian Renewable Energy Development Agency (IREDA) Chairman K S Popli said at India Energy Forum’s (IEF’s) Renewable Energy Summit.

IREDA official further added that India is on the path to achieve 50 GW of energy production from renewable sources of energy.

“Efficiency of solar cell is going up and we will witness commercial production in the next few years and policies are being relooked,” added Popli.

Popli while emphasizing on the need for a payment security system suggested that there should be a tie-up between the financial institutions and the state governments to facilitate this payment security mechanism.

Upendra Tripathy, Director General of the International Solar Alliance (ISA) informed the audience that on November 26, representatives of 29 nations will gather in Uttar Pradesh and present their respective views on some critical issues related to solar panels and its pricing.

Tripathy also highlighted that finance will remain a key roadblock in the advancement and acceprance of renewable energy projects.

President of the India Energy Forum, Anil Razdan said that the recent tendered bids have initiated a demand of up to 15-20 of low cost financing which will remain to be challenge for banks or financial institutions.

With the consolidation in the renewable energy market, interest margins of banks are shrinking at a rapid pace. That coupled with the risk associated with such projects make keeping the price low a challenge.

Source: PTI