Earlier this month, solar power tariff dropped to an all-time low of Rs 2 per unit in an auction conducted by the Solar Energy Corporation of India (SECI).
Under the SECI auction concluded, Saudi Arabian firm Al Joemaih Energy and Water Co and Sembcorp Energy India arm Green Infra Wind Energy Ltd emerged as the lowest bidders by quoting a tariff of Rs 2 per unit for 200MW and 400MW capacities.
In July this year, solar power tariffs had dropped to a low of Rs 2.36 per unit in an auction of 2GW capacities by SECI.
“Increasing efficiencies in Solar PV and wind modules is bringing down prices, enhancing affordability and accessibility of energy and supporting better standards of living,” said Power Minister R K Singh while speaking at the Valedictory Session of the 3rd Edition of the Renewable Energy Expo & Conference, RE-INVEST, 2020.
The minister also said that increasing storage and democratizing RE deployment will be the next frontier for the Government of India“.
Highlighting India’s drive to bring in more energy access with a target of 450 GW by 2030 and through reduction of prices and use of clean fuels, the minister added that as a policy, India will shift to ‘Green Ammonia’ from imported Ammonia, as well as add volumes in the usage of hydrogen.
Apart from 450 GW RE capacity India will also focus on building an integrated clean gas-based economy said Petroleum Minister Dharmendra Pradhan on the occasion.
Addressing the gathering, Bento Albuquerque, Minister of Mines and Energy, Brazil, said, “Brazil & India are key partners in developing mechanisms for the use of ethanol. Our countries are energy powers & our association will have a positive impact on society and in the post-pandemic world.
“The RE-INVEST is a great platform to discuss and debate with experts in the world of RE on the opportunities, issues and challenges of procuring energy from renewable sources.”
One Sun One World One Grid is also a strategy that India continues to push for at an international level.
Upendra Tripathy, Director General, International Solar Alliance (ISA) emphasized India’s role in the world and the work that ISA continues to foster across the world.
“At the COP26 next year, we plan to bring out a Glasgow charter not just for OSOWOG but also for World Solar Bank. ISA is happy to play a big role in building this together.”
Renewable Energy Secretary Indu Shekhar Chaturvedi said that 3rd RE-INVEST has helped to understand the depth and outcomes of the collective effort involving global stakeholders.
Many great learning experiences, new ideas & facts that will drive the way forward for Renewable Energy in India and across the world, he added.
The 3rd Global RE-INVEST was inaugurated on 26th November, 2020 by Prime Minister Narendra Modi and joined by various dignitaries from India and across the world including Prime Minister of Israel, Energy Minister from the UK etc.
More than 41 Sessions were organised during the event leading to deliberations on various aspects of renewable energy.