Union Minister of New and Renewable Energy, Dr. Farooq Abdullah has said that India is committed to increasing the share of renewable power in the electricity mix to 15 per cent by the year 2020. An action plan has already been developed that aims at accelerating the deployment of renewable energy with a target of around 30 GW of renewable power by 2017. Dr. Abdullah was addressing a distinguished gathering at the Institute of International and European Affairs (IIEA) in Dublin in Ireland on 15JUN12.
Stating that with a present installed capacity of over 25 GW of grid-connected power, India today stands among the top five countries of the world in terms of renewable energy capacity. Dr. Abdullah said renewable power represents about 12 per cent of total installed electricity generation capacity in India.
Abdullah went on to note that investment and technology are two of the biggest challenges facing the world today. Currently, broad estimates indicate that the India’s investment requirement in renewable energy would be in the range of at least USD 50 billion in the next five years alone. The Minister was hopeful that the renewable energy programme in India would benefit from the proposed Green Climate Fund under the Durban Platform for Enhanced Action of the United Nations Framework Convention on Climate Change (UNFCCC).