India plans to install 17 GW of renewable-based power generation capacity between 2012-17, requiring an investment of up to 1.5 trn rupees ($33.8bn), renewable energy secretary P. Uma Shankar said.
POWER-GEN India and Central Asia
in Delhi, Shankar said: "India's electricity demand is expected to increase from 900bn kWh to 1400bn kwh by March 2017. To meet this demand we will need a capacity addition of 100 GW during the next five-year plan."
More than half of India's current power generation capacity of 173.6 GW is based on coal and this is expected to continue for future capacity additions, according to the Wall Street Journal.
India currently has 20 GW of renewable energy capacity, constituting more than 11 per cent of the country's total power generation capacity, said Deepak Gupta, secretary at the Ministry of New and Renewable Energy, speaking at the POWER-GEN India keynote address.
Renewable energy under the ministry includes energy sources such as solar, wind, biomass and small hydroelectric projects, but excludes large-sized hydroelectric projects. A significant chunk of renewable energy investment in the next five-year economic plan is expected to come from the private sector, Gupta said.
India's power sector overall will need an investment of $300bn to $400bn during the next five-year economic plan that starts April 2012 and ends March 2017 to meet its generation targets, power secretary Shankar said.