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India as a civilisation has revered nature for its life-giving properties and has been powered by renewable sources since ancient times. Modern India generates almost a third of its power using renewables sources – water, wind and a small part from the sun (&lt;1%) while the rest comes largely from fossil fuels (coal, oil, gas). These fuels have been the mainstays of power generation for the past few decades and would have continued to do so but for their escalating prices. Also, an ongoing lack of consistent fuel supply to meet even the current demand, along with the clamour against global warming, has put the energy industry under increased pressure and the focus is now on renewable sources of power like the sun, water, geothermal, biomass and wind. 
 
Large hydro projects, comprising almost a third of the current power generation sources, have hit numerous roadblocks due to people displacement, global warming, habitat destruction and land submergence. Biomass initially started off well but due to unplanned supply chain issues, has resulted in almost 75% of the 2 GW installed capacity coming to a standstill. Tidal and geothermal are almost non-existent in India while wind has played a significant role in increasing the acceptability of renewables, but hasn’t really contributed to a scalable solution. Biomass has been an abject failure due to fuel price rise, with 75% of the installed 2 GW capacity currently without adequate biomass supply. Wind turbines generate unscheduled power for just a few months, making them unsuitable for mainstream power generation, especially in the Indian context, and were only successful due to huge corporate tax benefits. 
 That just leaves us with the sun which delivers more than enough <keyword id="6357019" type="UNKNOWN" weightage="40" keywordseo="solar-energy">solar energy</keyword> every hour to our planet to power the entire world’s energy needs for a year. However, the major drawback is its periodic nature and capturing this energy for round-the-clock delivery at cost-effective pricing is the next paradigm of energy that is now receiving attention and interest. 
 Clean and <keyword id="60895" type="UNKNOWN" weightage="40" keywordseo="Green-energy">green energy</keyword> is a basic theory of modern life although the governmental focus is more on grid power, which is a polluting, inefficient and unreliable source of power. AT&amp;C losses account for close to 40% of the total power generation, amounting to a total of Rs 75 thousand crore and more every year that could wipe out energy poverty across the country. Smart grids and infrastructure updates are the need of the hour. But the government is still focused on spending Rs 2 lakh crore to bail out bankrupt Discoms whereas that amount could have been used to deliver distributed energy and reduce dependence on Discoms for a large part of the country. 
 The <keyword id="44734" type="ORGANIZATION" weightage="40" keywordseo="Indian-Government">Indian government</keyword> recognised this potential and the MNRE (Ministry of New and <keyword id="34553" type="ORGANIZATION" weightage="60" keywordseo="renewable-energy">Renewable Energy</keyword>) launched an ambitious programme in 2010 called JNNSM (Jawaharlal Nehru National Solar Mission) to deploy 22,000 MW of grid-connected <keyword id="70990" type="UNKNOWN" weightage="40" keywordseo="Solar-power">solar power</keyword> by 2020. The programme has seen limited success with phase I meeting its PV targets and phase 2 on the way in the form of 750 MW via the Viability Gap <keyword id="6357455" type="EVENT" weightage="40" keywordseo="Funding">Funding</keyword> (VGF) programme. 
 
In the initial programme, CSP (Concentrated Solar Power), aka GemaSolar, but without storage, was touted as a replacement to thermal plants and received majority of the allocation but failed to take off significantly, with deadline extensions and penalty waivers being the norm. There are talks to revive this programme and its success will decide whether solar power can be considered as a base load alternative. 
 
Thermal-concentrated sources of energy are optimal for urban and semi-urban areas. However, towns need to reduce dependence on the grid and adopt the German model, which enables local, as well as distributed power, using net-metering. 
 
The MNRE programmes have barely managed to dent the potential of distributed RE, requiring focused attention and financial muscle to enable the nation on its path towards renewable energy. But MNRE has not paid out a large part of the residential subsidies of 30% of capital costs over the past year due to lack of funds, a serious damper, especially for solar on rooftops. The current VGF programme is scheduled to cost the MNRE Rs 2,500 crore and push solar procurement costs down to below Rs 5.5 per KWh, enabling it to compete with conventional energy. 
 
The essence of solar success lies in empowering the distributed 400 million poor who are currently consuming fossil fuel not touched by the power grid and thus reduce India’s CAD (current account deficit), environmental pollution and health concerns. But there lies the irony. The rural/tribal populace pays nearly twice or thrice the rate of power than those living in cities, but has received minimal attention although the impact is the highest to those using fossil fuel and government subsidies in daily life. 
 
Every unit of power generated has the ability to multiply economic growth, especially in rural areas that suffer from energy paucity due to unreliable connections or load shedding. State governments of Tamil Nadu, Kerala and a few other states have already initiated proactive steps by increasing the state subsidies, in addition to subsidies from the central government, and are also looking at replacing grid-connected agricultural equipment with solar-enabled ones. 
 
Solar has the potential to reduce the current energy peak deficit significantly and improve delivery due to its distributed nature, provided it can get the appropriate financial support from the Centre, as well as all the states. The central government continues to think that grid power, with its huge losses, is the solution. But in reality, distributed energy, delivered to every home and the excess pumped into the grid, would result into least amount of losses while reducing energy generation needs. 
 
Over the next few years, solar power will come into its own, both from financial viability and availability perspectives, with exponential growth in distributed solar, coupled with storage, transforming the entire energy spectrum in India. The future of Indian energy segment is here and it is the Sun that will continue to power our economic and energy growth into the next millennium. 
 
About the author: Ritesh Pothan manages two India-focused renewable energy groups on LinkedIn. He is also a founding member of <keyword id="2036013" type="UNKNOWN" weightage="40" keywordseo="Natural-Group">Natural Group</keyword>, a solar and renewable energy-focused advisory/consulting organisation, and helps drive significant value into renewable energy projects.

Solar Is The Future Of Renewable Energy In India

<keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword>'s <keyword id="414814" type="General" weightage="20" keywordseo="renewable-energy-sector" source="Orion">renewable energy sector</keyword> has the potential to employ around one million people by 2030, and most of the new jobs would be generated by small-scale renewable energy projects, according to a study. India's renewable energy sector could potentially employ around one million people by 2030, which would be ten times more than the existing workforce of an estimated 1.1 lakh employed by the sector, according to an independent study released on Thursday by the <keyword id="3502332" type="General" weightage="20" keywordseo="council-on-energy" source="Orion">Council on Energy</keyword>, <keyword id="3502333" type="General" weightage="20" keywordseo="environment-and-water" source="Orion">Environment and Water</keyword> (CEEW), <keyword id="172147" type="General" weightage="20" keywordseo="Natural-Resources-Defense-Council" source="Orion">Natural Resources Defense Council</keyword> (NRDC) and Skill Council for Green Jobs (SCGJ). The study "India's Expanding Clean Energy Workforce" highlighted that most of the new jobs would be generated by small-scale renewable energy projects such as rooftop solar and mini and micro-grid systems compared to utility or large-scale projects like solar parks. The CEEW-NRDC-SCGJ analysis also highlighted the adverse impact of the pandemic on employment in the renewable energy sector. In comparison to 12,400 new workers employed in the sector in FY19, only 5,200 new workers were employed in FY20 and 6400 were employed in FY21, it said. In FY21, a majority of the new workers were employed in the rooftop solar segment where annual capacity additions grew by nine per cent over FY20 and accounted for 1.4 GW capacity, it added. The study further noted that India has successfully trained 78,000 people under the Suryamitra training program, between 2015 and 2017, to improve the availability of skilled workers for clean energy projects. "The upcoming Union Budget must especially focus on scaling up rooftop solar, mini and micro grid systems, and domestic solar manufacturing to maximise the employment opportunities in the sector," Dr Arunabha Ghosh, CEO, CEEW said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/budget/news/railways-stocks-rally-on-expectation-of-strong-budget-allocation-to-the-sector/articleshow/89173796.cms">Railway stocks have been buzzing for the last one month on expectation of significant budget allocation</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/space/news/toyota-and-japans-space-agency-developing-lunar-cruiser-for-people-to-live-on-the-moon-by-2040/articleshow/89173523.cms">Toyota and Japan’s space agency have an ambitious plan for people to live on the moon by 2040</a>

India's renewable energy sector can employ one million people by 2030, says study

5 multibagger stocks that are into clean and renewable energy supporting the climate change wave

The Cabinet on Thursday approved Rs 12,000 crore for the second phase of the <keyword id="1869019" type="General" weightage="20" keywordseo="green-energy-corridor" source="Orion">Green Energy Corridor</keyword> to facilitate grid integration and power evacuation of about 20 GW of renewable energy projects in seven states. The scheme targets to add approximately 10,750 circuit kilometres of transmission lines and about 27,500 mega volt-amperes transformation capacity of sub-stations. Announcing the decision, Union Minister Anurag Thakur said the second phase will be implemented during 2021-22 to 2025-26 fiscal years. He said central assistance is 33 per cent of the total investment. The minister added that 80 per cent of the phase one work has been completed. The outlay of the first phase was Rs 10,142 crore. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/top-electric-scooters-and-electric-bikes-in-india-in-january/articleshow/73658940.cms">Top electric scooters and electric bikes in India</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/politics/india/news/travel-restrictions-in-uk-us-france-germany-for-indian-travellers-during-covid/articleshow/88728921.cms">If you are looking to travel to UK, US or France, these are the restrictions you need to know</a>

Cabinet approves ₹12,000 crore for second phase of green energy corridor

<ul><li><keyword id="7039692" type="UNKNOWN" weightage="20" keywordseo="ireda-chairman">IREDA Chairman</keyword> said that IPO is likely to happen before September, the earlier expected IPO was to be in June. </li><li>They had got the approval from SEBI for IPO in February 2018. </li><li>The Chairman added that they have plans to borrow ₹3,000 crore- ₹4,000 crore next year. </li></ul>The Indian Renewable Development Agency (IREDA), the government’s nodal agency to route subsidies in the renewable energy sector, was headed for an Initial Public Offering by June, 2019 but the same could now be delayed. The IREDA chairman and managing director KS Popli said that IPO is likely to be done before September. “We can only go upto 15% of our total equity, the approval we had was for 13.9 crore shares, whatever the rate comes. The amount will be between ₹700-750 crores,” Sharma said on February 7. The state-run IREDA, a non-banking financial company with RBI, had got the approval from <a href="https://economictimes.indiatimes.com/markets/ipos/fpos/bharat-dynamics-ireda-get-sebis-go-ahead-for-ipo/articleshow/63028335.cms">SEBI</a> for an IPO in February last year. The company had hoped to launch the IPO in March last year but had faced a delay because of <a href="https://www.bloombergquint.com/business/indian-renewable-energy-development-agency-ipo-delayed#gs.AlYPMf6W">compliance</a> issues with SEBI. The Chairman added that they have plans to borrow around ₹3,000 crore to ₹4,000 crore next year depending on the demand for funds from the purchasers. In <a href="https://www.financialexpress.com/market/ireda-scraps-proposed-green-bond-sale-amid-tepid-response/1426964/">December </a>2018, the agency had also done away with its proposed green bond sale because of not a great response from the market, even though it had hoped to raise ₹250 crore through them. Meanwhile, the IREDA had also run into trouble as Moody’s, the global credit rating agency, had warned investors regarding the former’s financials. The rating agency turned its outlook of IREDA from outstanding to negative stating “deterioration in IREDA’s financial performance, due to an increase in problem assets, as well as a significant decline in profitability, driven by certain changes in accounting norms" as reported by <a href="https://www.livemint.com/Companies/Y4sfNm4e7vzGsZCq5SdEhO/Moodys-cautions-investors-on-financials-of-PSU-lender-IREDA.html">Mint.</a> See Also: <a href="https://www.businessinsider.in/unemployment-indias-new-solar-power-projects-may-create-60000-jobs/articleshow/67878602.cms">New solar projects may create 60,000 jobs, says India's government</a> <a href="https://www.businessinsider.in/interim-budget-2019-the-state-of-indias-solar-power-is-a-matter-of-concern/articleshow/67622437.cms">India’s solar power producers are awaiting a ray of hope</a>

India's Renewable Energy Development Agency IPO may be delayed again

<ul><li>The central <keyword id="26362" type="ORGANIZATION" weightage="20" keywordseo="Government">government</keyword> has instructed the <keyword id="1937268" type="ORGANIZATION" weightage="20" keywordseo="Solar-Energy-Corporation-of-India">Solar Energy Corporation of India</keyword> (SECI) to release a tender to add 1,000 MW of solar energy capacity every month from November 2018 to February 2019 in order to meet its targets. </li><li>The tenders, if successfully bid for by developers, will add 4,000 MW to the already existing capacity of 25,000 MW in <keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword>. </li><li>As a result of the muted response to previous auctions, SECI will incentivise developers to bid by increasing <keyword id="6357464" type="UNKNOWN" weightage="20" keywordseo="tariff">tariff</keyword> rates and extending project timelines. </li></ul>As it heads into election year, the central government is wary of underperforming on its solar energy mandate. As a result, it has instructed the Solar Energy Corporation of India (SECI), a company housed under the Ministry of New and <keyword id="34553" type="ORGANIZATION" weightage="20" keywordseo="renewable-energy">Renewable Energy</keyword> to facilitate the government’s solar energy projects, to release a tender to add 1,000 MW of solar energy capacity every month from November 2018 to February 2019, according <a href="https://indianexpress.com/article/business/business-others/govt-asks-solar-energy-corp-to-bring-tenders-of-4000-mw-5452661/">to the Indian Express</a>. The tenders, if successfully bid for by developers, will add 4,000 MW to the already existing capacity of 25,000 MW in India. However, going by <a href="https://energy.economictimes.indiatimes.com/news/renewable/developers-still-reluctant-to-bid-for-solar-power-assets/66687042">the muted reaction</a> to recent manufacturing-linked tenders, it remains to be seen if anyone will bid for them. Why is the interest in these tenders waning? It seems that the lack of certainty regarding the demand for solar energy doesn’t justify the investment required. In June 2015, the Indian government announced that it planned to add <a href="https://www.business-standard.com/article/economy-policy/cabinet-revises-solar-power-target-to-1-lakh-mw-by-2022-115061700668_1.html">100,000 MW</a> of solar energy capacity by 2022. What seemed an ambitious target at the time became a lot more realistic over the next few years as a number of solar power projects were commissioned and India undertook the stewardship of <a href="https://unfccc.int/news/international-solar-energy-alliance-launched-at-cop21">the International Solar Alliance</a>. However, in the last year, there has been a significant slowdown in the solar energy sector. Imports of solar panels from China, which are used in 80% of solar power projects in India, have been getting more expensive because of the falling rupee and a reduction in subsidies from the Chinese government to the solar energy sector. Funding from banks has also dried up as the sector becomes less of a safe bet. All that means is the upcoming auctions will be crucial to get India’s solar energy ambitions back on track. And SECI knows that it has to adequately incentivise developers to bid. It has, therefore, <a href="https://economictimes.indiatimes.com/industry/energy/power/terms-of-10-gw-solar-tender-unlikely-to-be-relaxed/articleshow/66628663.cms">increased the tariff rates</a> for solar energy developers to sell their products to distribution companies. It has also extended timelines for the implementation of projects. If the next few tenders fail to attract sufficient bids, it might have to do away with the process of capping tariff rates entirely and even permanently relax <a href="https://www.thehindu.com/business/Industry/centre-imposes-25-safeguard-duty-on-import-of-solar-cells/article24565771.ece">the 25% duty imposed</a> on imports of Chinese solar panels and modules. SEE ALSO: <a href="https://www.businessinsider.in/softbanks-ceo-pledges-to-give-india-and-other-solar-alliance-members-free-power-in-25-years/articleshow/66065755.cms">Softbank's CEO pledges to give India and other solar alliance members free power in 25 years</a> <a href="https://www.businessinsider.in/if-indias-solar-energy-is-cheaper-than-coal-why-isnt-the-industry-thriving/articleshow/65605221.cms">If India’s solar energy is cheaper than coal, why isn’t the industry thriving?</a> <a href="https://www.businessinsider.in/india-needs-to-support-domestic-manufacturers-in-order-to-achieve-its-solar-energy-targets/articleshow/63280197.cms">India needs to support domestic manufacturers in order to achieve its solar energy targets</a>

India may have a tough time meeting its solar energy capacity targets as developers steer clear of government auctions

<ul><li>Even though India's not opening any new coal-fired power plants at home, India still continues to fund coal plants overseas.</li><li>Nearly 30% of global coal financing was sourced from the Export-Import Bank of India.</li><li>Funding coal power plants in other countries poses a financial risk and isn't strategically sound, according to a finance specialist with Sustainable Energy for All.</li></ul>India is lauded for its aggressive targets to achieve <keyword id="8375792" type="UNKNOWN" weightage="20" keywordseo="sustainable-energy-goals">sustainable energy goals</keyword> — like aiming to generate 175 GigaWatts (GW) of its energy from renewable sources by 2022. Its policy framework and ambitious targets for sustainable energy made it the top scorer in this year <a href="http://global-climatescope.org/assets/data/reports/climatescope-2019-report-en.pdf">Climatescope</a> rankings. Not only is India working towards bringing in more sources of renewable energy, but it's also cutting down on fossil fuels. Its existing coal fired power projects are reporting stress and no new financial commitments for coal plants have been made. However, India continues to financing coal fired power plants in other countries. "India is reducing its reliable on coal domestically, leading the world in solar PVs. But what it's still doing, which we find curious, is funding coal projects outside India," said Olivia Coldrey, the lead finance specialist at Sustainable Energy for All (SEforALL), an initiative launched by former UN Secretary-General Ban Ki-moon to work towards SDG7, universal access to sustainable energy by 2030. It makes no financial sense As much as 30% of global coal financing was sourced from the Export-Import Bank of India. Most of it was for a project in Bangladesh amounting to $1.6 billion, according to data from SEforALL's Energizing Finance report. "It (investment in coal energy production) is economically questionable in the sense that we know it's cheaper in a lot of markets to build a new good connected solar or wind plant from scratch than to operate a fully depreciated coal plant," Coldrey told Business Insider. India is an exception to the trend of new coal fired power plants hitting their lowest level in a decade in 2018, according to Climatescope. "There's a real strategic question around India's continued financing of coal plants outside the country and whether it makes financial sense. There's a risk of stranded assets and reliance on the fuel supply stores in the destination country," explained Coldrey. Coal is dirty. Really dirty. But, it's also cheap, which is a big draw for developing nations like India. Nearly two-thirds of the country's electricity is generated using coal. "I would suggest that if India wanted to own the supply chain then it would be much better off owning the wind or solar supply chain. It's more economically sensible as an investment," noted Coldrey. There's hope yet — or maybe not Nearly two-thirds of the total financing — $24 billion — tracked in 2017 was investment in India and Bangladesh, according to Energizing Finance. "Money is responding to the targets," explained Coldrey. Most of the investment coming into India is coming from commercial entities. A shift has happened where the energy sector's development is no longer exclusively reliant on traditional development finance or public finance. "Money tends to move where investors, particularly in energy projects which are long term investments, when they are seen as a viable proposition," adds Coldrey. But there are still challenges to overcome. According to Climatescope's report, even though developing nations are moving towards cleaner power — it's not nearly fast enough. Even though investment is increasing, the requirements are much greater. See also: <a href="https://www.businessinsider.in/science/environment/news/you-can-experience-the-end-result-of-climate-change-today-with-virtual-reality/articleshow/72217525.cms">You can experience the end result of climate change today with virtual reality</a> <a href="https://www.businessinsider.in/more-than-two-thirds-of-asias-population-is-at-risk-of-coastline-flooding-by-2050-and-indias-on-the-front-line/articleshow/71816944.cms">More than two-thirds of Asia's population is at risk of coastline flooding by 2050 — and India's on the front line</a> <a href="https://www.businessinsider.in/climate-change-causes-australian-mammal-to-go-extinct/articleshow/68081948.cms">Climate change claims its first casualty in world's largest coral reef system</a>

India's still burning coal — just not at home

Indian Prime Minister <a href="http://www.businessinsider.in/searchresult.cms?query=Narendra+Modi">Narendra Modi</a> has vouched for 175 Gigawatts of <a href="http://www.businessinsider.in/searchresult.cms?query=renewable+energy">renewable energy</a> by 2022. He has also promised 12 GW of Power by the end of 2016 - three times the current capacity! In case you forgot, this was at the India Pavilion at the <keyword id="2389731" type="UNKNOWN" weightage="60" keywordseo="Paris-Climate-Change-Conference">Paris Climate Change Conference</keyword>. 
 
Awesome as it might sound, that’s a tall claim. Even by <a href="http://www.businessinsider.in/searchresult.cms?query=Narendra+Modi">Narendra Modi</a>’s standards. India’s <a href="http://www.businessinsider.in/searchresult.cms?query=renewable+energy">renewable energy</a> capacity addition between 2002 and 2014 has been around 20% YoY. However, the total capacity remains only a fraction of the target. 
 
The big question now is, can India reach the ambitious target it has fixed for itself ahead of <a href="http://www.businessinsider.in/searchresult.cms?query=Budget+2016">Budget 2016</a>? 
 
Let’s have a look at what the government has done in the sector so far! 
 
· The US has allowed a grant of $4 billion to push India’s <a href="http://www.businessinsider.in/searchresult.cms?query=renewable+energy">Renewable energy</a> goals. 
· 266 GW worth commitments were received at the RE-Invest Conference held in February 2015. As many as 27 Banks are ready to finance 72 GW <a href="http://www.businessinsider.in/searchresult.cms?query=renewable+energy">renewable energy</a> projects. · India has signed a MoU with Germany to promote <keyword id="6357019" type="UNKNOWN" weightage="80" keywordseo="solar-energy">solar energy</keyword>. As a part of this, Germany will allow low-interest loans in the range of 1 Billion Euro over the next 5 years. 
 
Most analysts don’t see a huge leap in terms of budget allocation for the <a href="http://www.businessinsider.in/searchresult.cms?query=renewable+energy">renewable energy</a> sector. The government’s investments, however, could be in the form of subsidies and tax-free bonds. It’s been doing that with rooftop solar panels for a while.

Budget 2016 – India’s Report Card
for Renewable Energy

New Delhi, Jan 31 () India has embarked on an ambitious target of having 450 GW of renewable energy by 2030 and also provide 17 lakh solar pumps to farmers under Pradhan Mantri-Kusum Yojana in coming days to capitalise on this clean resource, President Ram Nath Kovind said on Friday. 
 The country is already working on the target of having 175 GW of renewable energy by 2022 which includes 100 GW of solar and 60 GW of wind energy.
 As of December 2019, 86 GW of renewable energy capacity has already been achieved. This includes 34 GW of solar and 38 GW of wind energy. Besides, around 36 GW of clean energy is under installation and about 35 GW is under bidding stage.
 Addressing a joint sitting of both Houses of Parliament, Kovind said: "Keeping environment conservation in mind, my Government has enhanced the target for producing renewable energy to 450 gigawatts (GW). Under the Pradhan Mantri-Kusum Yojana, it has been targeted to provide more than 17 lakh solar pumps to farmers across the country." 
 He noted that under the second phase of the solar roof top programme, the target is to generate 38 GW of electricity.
In September last year, Prime Minister Narendra Modi had announced doubling India's non-fossil fuel target to 450 GW at Climate Action Summit at UN headquarters. 
 Kovind also told the members that after International Solar Alliance (ISA), India has been at the forefront of a global partnership.
The ISA was set up under the aegis of India. It was created to provide a dedicated platform for cooperation among solar resource rich countries.
 As many as 85 countries have signed the ISA framework agreement. A total 64 nations have ratified it. KKS KKS ANU
ANU

India to have 450 GW renewable energy by 2030: President

<ul><li>Research shows that <keyword id="3658" type="COUNTRY" weightage="20" keywordseo="India">India</keyword> is set to have the second largest power capacity in Asia.</li><li>The South Asian country will overtake Japan this year as per reports. </li><li>India may even gain on the US to become the second largest energy producer in the world by 2020.</li></ul>India may dominate the world’s air pollution list, but it’s still home to states like Tamil Nadu that <a href="https://www.thebetterindia.com/135457/tamil-nadu-denmark-sweden-wind-solar-energy/">utilise</a> more wind energy than Sweden and Denmark. With energy playing such an integral role in the nation’s ecosystem, it’s not astonishing that India is <a href="https://www.bloomberg.com/news/articles/2018-05-24/india-s-power-capacity-seen-overtaking-japan-this-year-chart" data-type="tilCustomLink">set</a> to have the second largest power capacity in Asia this year, according to reports. <a href="https://store.bmiresearch.com/index.php/india-power-report.html">BMI research</a>, a consultancy firm based out of London, has predicted that India’s enroute to overtake Japan in terms of power capacity. That being said, there’s a chance that India might even manage to overtake the US in terms of energy production, by 2020. Looking ahead In the current scenario, India’s 363.32 gigawatts of power generation is mainly dependent on coal. But by 2027, coal will remain as the primary source of energy, but India’s capacity to generate power will increase by 69%. Experts <a href="https://www.financialexpress.com/economy/india-to-beat-japan-this-year-to-have-asias-second-largest-power-capacity/1181791/">credit</a> the velocity of the upcoming change to the drop in prices for solar and wind energy. That’s not surprising considering that solar energy is at a position where it’s actually <a href="https://qz.com/1272394/cheap-solar-and-wind-energy-prices-are-killing-indias-coal-power-plants/">cheaper</a> than coal, as of now. In fact, India is currently the <a href="http://www.business-standard.com/article/current-affairs/india-third-largest-solar-market-in-the-world-mercom-communications-118051500643_1.html">third largest</a> solar market in the world. They go on to add that despite growth in cleaner sources of energy like nuclear, non-hydro renewables and natural gas, the dominance of coal will not diminish. In fact, in the proposed 2027 scenario, it will still account for 75% of the mix. That’s not so bad if you consider the fact that it currently accounts for 85% of India’s installed capacity. The overall conclusion is based on the premise that India will manage to complete its goal of installing an additional 175 gigawatts of <keyword id="34553" type="ORGANIZATION" weightage="20" keywordseo="renewable-energy">renewable energy</keyword> capacity by 2022 as per the <a href="https://www.hindustantimes.com/india-news/what-signing-the-paris-climate-change-treaty-means-for-india/story-RsDH1IAohQNEqRxb426YbM.html">Paris Climate Agreement 2015</a>. Two sides of the same coin Energy and India is always a mixed bag. Out of the 10 most polluted cities in the world, 9 are <a href="https://www.cnbc.com/2018/05/03/here-are-the-worlds-10-most-polluted-cities--9-are-in-india.html">located</a> in India. Move to the top 15 and 14 cities are still Indian. Yet, Karnataka, one of India’s southern states, is at the <a href="https://www.thebetterindia.com/134428/karnataka-india-electric-vehicle-revolution/">heart</a> of its Electric Vehicle (EV) revolution. Looking purely at numbers, in 2017, India’s carbon emissions actually <a href="https://timesofindia.indiatimes.com/city/delhi/14-of-worlds-15-most-polluted-cities-in-india/articleshow/63993356.cms">increased</a> by 4.6%. But on the other hand, per capita emissions are at 1.8 tonnes, much lower than the global average of 4.2 tonnes. Although these predictions look optimistically towards the future, developers are <a href="https://www.ft.com/content/80bb18c2-1c5b-11e8-aaca-4574d7dabfb6">wary</a> of the effect that increasing taxes and tariffs may have. In effect, 3 gigawatts of capacity have already been cancelled. Either way, energy from renewable and non-renewable sources, alike, plays an important role in the Indian ecosystem, as it should for any developing economy.

India might have second largest power capacity in Asia this year

The <keyword id="117954" type="CITY" weightage="80" keywordseo="Bharti-Enterprises">Bharti Enterprises</keyword> and <keyword id="2851103" type="UNKNOWN" weightage="80" keywordseo="japanese-conglomerate">Japanese conglomerate</keyword> <keyword id="163404" type="COMPANY" weightage="80" keywordseo="Softbank">SoftBank</keyword> might come up with a joint venture to enter into the fast-growing <keyword id="1105838" type="UNKNOWN" weightage="80" keywordseo="renewable-energy-market">renewable energy market</keyword> in India. 

	The chairman of Bharti Enterprises, Sunil Bharti Mittal and Japanese giant SoftBank's founder, Mayasoshi Son will soon be addressing a joint press conference, according to an Economic Times report. 
 

	There is a strong speculation that they would announce a joint venture which will mark their entry into a still nascent sector in the country. 
 

	The two companies already have a joint venture, Bharti Softbank or BSB for mobile internet. 
 

	Meanwhile, the installed capacity of renewable energy in the country reached 32,269.6 megawatts according to the renewable energy status report 2014. Consequently, the renewable energy, now constitutes 28.8% of the overall installed energy capacity in the country.
 Earlier this month, ET had reported that Bharti Enterprises managing director <keyword id="45947" type="PERSON" weightage="60" keywordseo="Manoj-Kohli">Manoj Kohli</keyword> was set to leave his current position and could join a renewable energy venture. 

	A Bharti spokesperson had said in an e-mail: "Manoj Kohli is a long standing and valued Bharti leader and has undertaken various assignments within the group. Manoj will continue to support Bharti's growth plans."
 

	This could be an indication that Kohli may play‎ a key role in the new renewable energy venture. 

	 
	(Image: Indiatimes)

Bharti group, SoftBank might enter into India's renewable energy market

When Varun Sivaram, a 26-year-old Stanford graduate, comes to India this month, he will bring along a story with which India will inch towards realising its solar energy dreams. 
 
Meet Sivaram, who is one of those who want to help India achieve its target of generating 100 gigawatts <a href="http://www.businessinsider.in/searchresult.cms?query=solar+energy">of solar energy by 2022</a>. 
 Sivaram, a Rhodes and Truman scholar, who is an advisor to the head of New York State's entire energy portfolio, is coming to India this month to meet Tamil Nadu's Chief Minister J Jayalalitha, members of Ministry of New and <keyword id="34553" type="ORGANIZATION" weightage="20" keywordseo="renewable-energy">Renewable Energy</keyword> and former environment minister Jairam Ramesh to exchange plans to achieve the target. 
 
When asked why he was interested in the Indian chapter, Sivaram said, “Solar was in my DNA. My dad was in the industry and I always wanted to go there.” 
 
Sivaram is a strategic advisor to Richard Kauffman, chairman of energy and finance for New York who works for the office of Governor Andrew Cuomo. 
 
"Varun is the right person at the right time. The utility sector needs more innovation and fundamental change in how it approaches customers. Varun's insights on how markets inform innovation have been instrumental to developing policy in New York," Kauffman told ET. 
 
READ ALSO<a href="http://www.businessinsider.in/Modis-Energy-Policy-Why-Tapping-Into-Alternative-Energy-Sources-Is-Critical/articleshow/45371640.cms">: Modi’s Energy Policy: Why Tapping Into Alternative Energy Sources Is Critical</a> 
 
Sivaram, who graduated in 2011, saw the flood of <a href="http://www.businessinsider.in/searchresult.cms?query=chinese+solar+panels">Chinese solar panels</a> in the US, which turned the industry in the country. 
 
Sivaram is also the youngest Douglas Dillon Fellow at <a href="http://www.businessinsider.in/searchresult.cms?query=Council+of+Foreign+Relations">Council of Foreign Relations</a> (CFR), a think-tank in New York that specialises in US foreign policy and international affairs. 
 
"Ministers do not want advice from western analysts. What they find helpful is when we share our experiences of implementing solutions on the ground," said Sivaram. 
 
In India<a href="http://www.businessinsider.in/searchresult.cms?query=renewable+energy">, renewable energy</a> is not cheap even after having cheap labour and land acquisition. The main problem resides in high upfront capital costs. 
 
Sivaram will try to lobby for access to affordable foreign debt and help the government devise a debt-related policy. 
 
Experts in the solar energy sector say India can achieve a lot in this sector and what is required is more support from banks and more transmission networks. 
 
Looking at his past record, Sivaram knows how to convince and work with policy makers. In 2013, he helped implement a policy in Los Angeles after which residents installed solar panels on their roof tops. This is now the biggest solar feed-in tariff program in the US. 
 
(Image: Indiatimes)

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