The proposed US listing of solar power developer Azure Power suggests there could be more action to come in India’s booming renewable energy sector. Rebecca Abraham reports
In February 2015, India set itself the mammoth task of increasing its renewable energy capacity to 175 gigawatts (GW) by 2022. With this the target for solar capacity was raised to 100 GW from 20 GW. This is arguably an ambitious target given that solar capacity currently stands at approximately 5 GW.
But speak to those with their ears to the ground for developments in the solar power sector and the view is that it could be realistic. “Four years ago India had 30 megawatts [0.03 GW] installed capacity and today we have around 4,000 megawatts [4 GW]”, says Hemant Sahai, managing partner at HSA Advocates, who advises on projects in the power sector. “India is currently rolling out the world’s largest solar programme. Nobody is close to it, not even China,” he says.