It said the Crisil report being referred to by the media is neither factually correct, nor does it take into account the initiatives taken to facilitate accelerated development and deployment of renewable energy in the country.
"This report lacks credibility in all respects as Crisil did not even bother to consult the ministry for its views. The ministry is not only confident of meeting 1.75 lakh MW target but exceeding it by 2022," it said in an official statement.
By September-end, India had installed more than 82,580 MW of renewable energy capacity with around 31,150 MW of capacity under various stages of installation. Thus, by the first quarter of 2021, India will installed more than 1.13 lakh MW of renewable power capacity.
This will constitute nearly 65 per cent of the targeted capacity, said the ministry. Besides, nearly 39,000 MW of renewable power capacity is at various stages of bidding which will be installed by September 2021, taking the installed capacity to over 87 per cent of the target.
"With only 23,000 MW left to bid, India is confident that the target of installing 1.75 lakh MW of renewable power capacity will not only be met but exceeded," said the statement.