Ambitious Target

India's 2022 renewable energy goal will require investment four times the defence budget

The central government's budget allocation for solar energy for the current financial year is merely 0.45% of the required investment.

"We have a target for renewable energy generation of 175 gigawatts by 2022. We have got off to a good start with nearly 12 GW likely to be installed by 2016, more than three times the current capacity,” Prime Minister Narendra Modi said during the inauguration of India's pavilion at the ongoing Paris climate change conference.

Of the target capacity, 100 GW would be from solar power, 60 GW from wind, 10 GW from biomass and 5 GW from small hydro power, according to the Union ministry of new and renewable energy.

“In order to achieve the proposed capacity of 100 GW target by 2022, the overall investment required would be around Rs 6 lakh crore ($89.88 billion) at the rate of Rs 6 crore per MW at the present cost,”  the country's power minister Piyush Goyal said in his reply to a question in the Rajya Sabha with regard to the solar energy target.

The central government’s budget allocated for solar energy the financial year 2015-16 is Rs 2,708 crore (0.45% of the required investment), according to the minister’s own statement in the same reply.

Capacity addition of renewable energy between 2002 and 2014 has been at a compound annual growth rate – the average year-on-year growth rate – of about 20%.


Source: indiaenergy.gov.in


India’s installed capacity of renewable energy is likely to reach 147 GW by 2020, according to a report by the International Energy Agency. It would need Rs 8.01 lakh crore ($120 billion) in capital investment and Rs 2.67 lakh crore ($40 billion) in equity to achieve the ambitious target, according to information released by the ministry of new and renewable energy.

The Rs 10.68 lakh crore ($160 billion) needed over the next seven years (until 2022) – at an average of Rs 1.53 lakh crore ($23 billion) a year– to meet the stated goal is equivalent to over four times the country’s annual defence spending, and over ten times the country’s annual spending on health and education.

Meeting the target capacity

Green energy commitments for 2.66 lakh MW (266 GW) were received during the RE-Invest conference held in February this year. As many as 27 banks have submitted their commitments for financing 72 GW renewable energy projects.


Source: Press Release from Ministry of New and Renewable Energy


Earlier this year, the US had committed to support India’s efforts in the renewable energy sector with a $4 billion (Rs 26,702 crore) deal.

India has signed a Memorandum of Understanding with Germany “to expand bilateral development cooperation in the field of solar energy by increasing use of solar energy in India through technical as well as financial cooperation”.

As a part of this MoU, Germany “would provide concessional loans in the range of one billion euro (over Rs 7,200 crore) over the next five years”.

It has to be noted that the government’s investments may not necessarily be capital in nature but could be in the form of subsidies and tax-free bonds.

For instance, of the 100 GW target in solar power capacity, 40 GW would be from rooftop solar panels – an endeavour which the government has been supporting through the subsidy route.

This article was originally published on Factchecker.in.

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We asked them and here's the verdict: Scotch is one of the #GiftsMenLove

A handy guide to buying a gift for a guy.

Valentine’s day is around the corner so men and women everywhere are racking their brains for the perfect present. Buying a gift for men though can be a stressful experience. Be it a birthday, celebration or personal milestone, many men and women find it difficult to figure out what their male friends or significant others want. That’s why TVF decided to perform a public service and ask the guys directly what they loved. So, the next time you’re running around to buy a gift for a man, just pick something from the list below and thank us later.

Watches: A watch can complete a man’s ensemble and quickly become a talking (or bragging) point at a party. If your man loves classics, a vintage HMT (if you can find one) with a metal strap should be your brand of choice. For fun-loving guys, try a Swatch watch with a pop-coloured leather strap or even a watch with Swarovski crystal studded dials from a variety of watchmakers. Fossil’s unconventional dials will delight a creative or artistic soul. Alternatively, the G-shock collection by Casio is reasonably priced, waterproof and perfect for those who love adventure sports. If your man is a fitness enthusiast, surprise him with an excellent fitness band from GoQii.

Image Credits: Pexels
Image Credits: Pexels

Whisky: A well stocked bar is every man’s pride and joy. Whisky, especially scotch is an extremely popular gift with men. It is a gift that can be displayed with pride and shared on occasions with friends and family. Scotch is any whisky (single malt or blended) that comes from Scotland, is usually aged for at least three years (often more) and distilled twice. Each region in Scotland produces whisky with a distinct flavor. Spirits from Islay, like Laphroaig, tend to have a strong peat flavor while single malts from Speyside tend to be lighter and sweeter. Connoisseurs will sing praises of the golden colour of blends like Johnny Walker or Black and White, and the smoky taste of Scotch whiskies like Black Dog. If your partner is truly mad about malts, go the whole hog and surprise him with a malt tour in Scotland - the ultimate whisky experience.

Image Credit: Pexels
Image Credit: Pexels

Jackets: For a more personal touch, a jacket can be quite an apt gift. A romantic-at-heart will love a traditional bandhgala while bike enthusiasts swear by their weather-worn leather jackets. Blazers are great day-to-night apparel, looking perfectly at home in the office or in a bar. You’ll be spoilt for choice when it comes to brands and designers: high street labels like Blackberry’s and Zara offer trendy outerwear at affordable prices. Custom made jackets like the ones from Raymond’s Made-To-Measure collection or the Bombay Shirt Company are also a great option, if you really want to get creative with the design.

Sunglasses: If your friend is a globetrotter, a smart pair of shades will delight him like nothing else. Whether he is sunbathing in the Maldives, chasing zebras in Tanzania or skiing in Courchevel, this travel accessory adds an instant glam quotient to almost every type of holiday. Recent sunglass trends have been a major throwback to retro shapes inspired from Hollywood films like Tom Cruise’s aviators from Top Gun, Steve McQueen’s Persols from The Thomas Crown Affair or the wayfarers sported by the lead actors in The Blues Brothers. You’ll find many variations at high street brands like H&M and Diesel but if you can stretch the budget, pick up a good quality pair from Burberry or Louis Vuitton. Better yet, buy a unisex design that you can borrow when your heart desires!

Image Credits: Pexels
Image Credits: Pexels

Headphones: Most guys love their music, whether their choice of genre is soft rock, hard metal or folk fusion. So, it makes sense that headphones are on the list of the most popular gifts loved by men. Make sure you know what you’re looking for when it comes to buying headphones. For style combined with comfort, Skull Candy headphones come in a fun palette of colours. For amazing sound quality and pumping bass, you can opt for Shure or Sennheiser; they may look basic but deliver on their audio capabilities. Audio-Technica headphones are also gaining a cult following among audiophiles for their excellent sound clarity. If your man listens to music while working out, get the Jabra Sports in-ear headphones which are made for the gym. Though it feels pragmatic, this gift will be treasured by all music lovers.

So, take a pick from this list and the guy you gift will be indebted to you for life! For more great gifting ideas, see here.

This article was produced by the Scroll marketing team on behalf of LiveInStyle and not by the Scroll editorial team.