India should provide long-term finance at lower interest rate to all hydro power projects for their viability and to keep tariff competitive with other generation sources, a lawmakers’ panel said in a report on Friday.
The report recommended promotion of hydro power on the lines of solar energy by making its purchase mandatory in overall consumption. India should categorize hydro power as renewable source of energy “as soon as possible,” the report says.
Hydro power has not got adequate attention as only 45.4 gigawatt is utilized against the total potential of 241 gigawatt, the report says, adding the share of hydro power in India’s energy mix is 13 percent.
Source: Bloomberg L.P.