The Economic Survey for 2016-17 has stated that India has attained fourth position globally in terms of installed wind power capacity, after China, the US and Germany. A capacity addition of 14.3 GW of grid-connected renewable power has been reported during the past two and a half years, comprising 5.8 GW of solar power, 7.04 GW of wind power, 0.53 GW of small-hydro power and 0.93 GW of biopower. The survey also reported that the plant load factors in the country are exceptionally low, dropping to 59.6 per cent during the period April to December 2016, as compared to 62 per cent in the corresponding period of 2015. Merchant tariffs for electricity purchased in the spot market have slid to around Rs 2.50 per kWh, far below the breakeven rate of Rs 4 per kWh needed for most plants. As a result, the cash flow of most private generation companies is falling short of meeting their interest obligations.