The Indian Ministry of New and Renewable Energy (MNRE) has formulated an energy roadmap to install an additional 30GW of renewable energy capacity by 2017.
The Integrated Energy Policy looks to expand its energy supply options and ways in which to increase the country’s renewable energy capacity on a large scale. The MNRE attributes the current rapid growth in domestic production to the central government’s Jawaharlal Nehru National Solar Mission (JNNSM), which aims to install 10GW of PV capacity by 2017. Current capacity stands at 2GW.
In addition to the roadmap, the government is also developing various financial incentives.
Last week, the MNRE announced plans to adopt a viability gap funding (VGF) model for the second phase of its Jawaharlal Nehru National Solar Mission (JNNSM), to provide financing to grid-connected solar power projects. However, consulting firm Mercom Capital said the VGF would be a “pretty risky approach” because energy projects currently under this scheme have so far been unsuccessful.
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