Renewable Energy Capacity Addition Five-year Low in 2020 says Report

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Renewable energy capacity addition was at a five-year low in 2020, with 2,620MW and 1,309MW of solar and wind capacity installed respectively in the calendar year reports renewable energy consultancy firm Bridge to India.

In 2019, added installed capacity for solar was 5013 MW and for wind it was 1879 MW. It indicates the steep drop in solar installation.

Due to extended lockdown and consequent effect on movement of people and goods the sector faced major operational and financial challenges. Covid-19 pandemic attributed the slowdown to delays in government approvals and financial decisions says the report.

Project construction activities picked up towards the end of the quarter but labour shortage and restrictive work practices continued to affect project progress. The sector is struggling with contraction in demand, restrictive working practices, higher working capital and payment delays.

Vinay Rustagi, Managing Director Bridge to India said that the government needs to identify and fix specific needs of the industry for speedier implementation.

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