India is expected to add only 60GW of renewable energy capacity over the next 5 years, according to India's Bridge To India Renewable Energy CEO survey report 2020.
"This is very low, at 12GW per annum. The government wants to achieve 175GW by 2022 and 450GW by 2030," said Vinay Rustagi, Managing Director of the renewable energy consultancy firm.
India's solar utility capacity was 32.2 GW and its wind capacity was 37.6 GW as at 31 March 2020.
It said that 58 per cent of the respondents were against the idea of imposing import duties on cellular and module imports. Last week, Union Minister for Power and Renewable Energy R.K. Singh told the power sector that the basic customs duty on solar modules, cells and inverters will be effective from 1 August.
The survey found that 50 % of respondents thought the auctions market was quite aggressive.
"A large majority of respondents report a challenging policy environment. Uncertain policy environment was voted as one of the biggest challenges in the sector in 2019, indicating little improvement on this front," it said.
ET reported in May that the Ministry of Renewable Energy is likely to eliminate plain vanilla wind and solar tenders. A round-the-clock auction was held in May for 400MW of projects, with a leveled tariff of Rs 3.60 per unit. "Majority of respondents feel that new tender designs such as manufacturing-linked tenders and blended renewable-thermal power tenders are desirable but execution concerns remain," the survey report said.
