Another year passes by and its time to look up at the numbers for 2014. Renewable energy projects did have a great year in terms of announcements, proposals and projections but when it comes to numbers, we still miss the target.
Wind continues its domination as the leading renewable energy source in India. The return of accelerate depreciation benefit is a huge boost to the sector and the complete picture will be available only after march 2015 when the financial year ends.
Solar power has seen big ticket announcements with over 2000MW of projects announced across India in the past year but again when it comes to numbers it has been disappointing. Only 430 MW projects have been connected to the grid. March 2015 could again see a bigger number when the NSM projects (750 MW or a significant percentage of it are expected to be commissioned).
Small Hydro has achieved close to 75% of its target for the year which is the highest among the renewable energy soucrces.
Contrary to the big power projects, off grid and captive power projects have made significant progress and achieved over 75% of their targets for the year.
Lets hope 2015 turns out to be a better year for renewable energies!
Check the full status of RE projects here