19.14         ndian     onom
        (iii) Solar Parks (32 such parks approved by                     Purchase Agreements have expired or
              February), each with the capacity of 500                   completed their useful life;
              MW and above.
        (iv) Ultra Mega Solar Power Projects to be                       for solar and wind power;
              developed in the next five years in various
              states.                                                    produced from ‘waste-to energy’
         (v) National Offshore Wind Energy Policy 2015                   plants;
              is another major renewable energy policy                   Ancillary services to support
              initiative. It aims at helping offshore wind               grid operation for expansion of
              energy development, including setting                      renewable energy, etc.
              up of offshore wind power projects and
              research and development activities in          FuturE outlook
              waters, in or adjacent to the country, up
              to the seaward distance of 200 nautical      India has been amongst the six most vulnerable11
              miles exclusive economic zone (EEZ) of       countries in the world by the Global Climate Risk
              the country from the base line.              Index 2018 . The areas which are prone to climatic
        (vi) Accelerated Depreciation Benefits scheme      shifts have high population living in poverty
              for wind power projects have been            involved in climate-sensitive occupations. In such
              restored by the GoI in 2016 (which were      a situation climate change could have significant
              withdrawn in July 2014). This will help      implications for living standards. The effects of
              in creating a robust manufacturing base      climate change will vary significantly depending
              for wind turbines in the country.            on the level of exposure and the inherent
       (vii) To provide adequate amount of                 adaptive capacities the people, households and
              investment, the Reserve Bank of India        communities.
              has included renewable energy in the PSL          India’s efforts on sustainable development
              (priority sector lending) for scheduled      and climate change have ensured several positive
              commercial banks.                            outcomes. Though, mobilising suitable amount of
      (viii) The new National Tariff Policy (January       financial support is getting quite difficult for the
              2016) for electricity has a focus on         country, climate change policies have been given
              the environmental aspect with major          high importance by the Government. Climate
              provisions such as (Economic Survey          change has been outlined as an important aspect
              2016-17)—                                    of policy consideration by the 15th Finance
                                                           Commission also.
                  (excluding hydro power) shall come            Global multilateral attempts and related
                  from solar energy by March 2022;         obligations of the long-term fund support have
                                                           not been fulfilled in any meaningful way. Fund
                                                           uncertainties are not good for checking climate
                  plants to establish/procure/purchase
                                                           change. India believes that it is necessary for
                  renewable capacity;
                                                              11  Economic Survey 2018-19, Vol. 2, Ministry of Finance,
                                                                  GoI, N. Delhi, p.79.
                  power from plants whose Power