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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“My body instantly craves chai and samosa”

German expats talk about adapting to India, and the surprising similarities between the two cultures.

The cultural similarities between Germany and India are well known, especially with regards to the language. Linguists believe that Sanskrit and German share the same Indo-Germanic heritage of languages. A quick comparison indeed holds up theory - ratha in Sanskrit (chariot) is rad in German, aksha (axle) in Sanskrit is achse in German and so on. Germans have long held a fascination for Indology and Sanskrit. While Max Müller is still admired for his translation of ancient Indian scriptures, other German intellectuals such as Goethe, Herder and Schlegel were deeply influenced by Kalidasa. His poetry is said to have informed Goethe’s plays, and inspired Schlegel to eventually introduce formal Indology in Germany. Beyond the arts and academia, Indian influences even found their way into German fast food! Indians would recognise the famous German curry powder as a modification of the Indian masala mix. It’s most popular application is the currywurst - fried sausage covered in curried ketchup.

It is no wonder then that German travellers in India find a quite a lot in common between the two cultures, even today. Some, especially those who’ve settled here, even confess to Indian culture growing on them with time. Isabelle, like most travellers, first came to India to explore the country’s rich heritage. She returned the following year as an exchange student, and a couple of years later found herself working for an Indian consultancy firm. When asked what prompted her to stay on, Isabelle said, “I love the market dynamics here, working here is so much fun. Anywhere else would seem boring compared to India.” Having cofounded a company, she eventually realised her entrepreneurial dream here and now resides in Goa with her husband.

Isabelle says there are several aspects of life in India that remind her of home. “How we interact with our everyday life is similar in both Germany and India. Separate house slippers to wear at home, the celebration of food and festivals, the importance of friendship…” She feels Germany and India share the same spirit especially in terms of festivities. “We love food and we love celebrating food. There is an entire countdown to Christmas. Every day there is some dinner or get-together,” much like how Indians excitedly countdown to Navratri or Diwali. Franziska, who was born in India to German parents, adds that both the countries exhibit the same kind of passion for their favourite sport. “In India, they support cricket like anything while in Germany it would be football.”

Having lived in India for almost a decade, Isabelle has also noticed some broad similarities in the way children are brought up in the two countries. “We have a saying in South Germany ‘Schaffe Schaffe Hausle baue’ that loosely translates to ‘work, work, work and build a house’. I found that parents here have a similar outlook…to teach their children to work hard. They feel that they’ve fulfilled their duty only once the children have moved out or gotten married. Also, my mother never let me leave the house without a big breakfast. It’s the same here.” The importance given to the care of the family is one similarity that came up again and again in conversations with all German expats.

While most people wouldn’t draw parallels between German and Indian discipline (or lack thereof), Germans married to Indians have found a way to bridge the gap. Take for example, Ilka, who thinks that the famed differences of discipline between the two cultures actually works to her marital advantage. She sees the difference as Germans being highly planning-oriented; while Indians are more flexible in their approach. Ilka and her husband balance each other out in several ways. She says, like most Germans, she too tends to get stressed when her plans don’t work out, but her husband calms her down.

Consequently, Ilka feels India is “so full of life. The social life here is more happening; people smile at you, bond over food and are much more relaxed.” Isabelle, too, can attest to Indians’ friendliness. When asked about an Indian characteristic that makes her feel most at home, she quickly answers “humour.” “Whether it’s a taxi driver or someone I’m meeting professionally, I’ve learnt that it’s easy to lighten the mood here by just cracking a few jokes. Indians love to laugh,” she adds.

Indeed, these Germans-who-never-left as just diehard Indophiles are more Indian than you’d guess at first, having even developed some classic Indian skills with time. Ilka assures us that her husband can’t bargain as well as she does, and that she can even drape a saree on her own.

Isabelle, meanwhile, feels some amount of Indianness has seeped into her because “whenever its raining, my body instantly craves chai and samosa”.

Like the long-settled German expats in India, the German airline, Lufthansa, too has incorporated some quintessential aspects of Indian culture in its service. Recognising the centuries-old cultural affinity between the two countries, Lufthansa now provides a rich experience of Indian hospitality to all flyers on board its flights to and from India. You can expect a greeting of Namaste by an all-Indian crew, Indian food, and popular Indian in-flight entertainment options. And as the video shows, India’s culture and hospitality have been internalized by Lufthansa to the extent that they are More Indian Than You Think. To experience Lufthansa’s hospitality on your next trip abroad, click here.

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This article was produced by the Scroll marketing team on behalf of Lufthansa as part of their More Indian Than You Think initiative and not by the Scroll editorial team.