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Centre okays Rs 12,031 crore scheme for big push to green energy in 7 states

India's thrust: Green growth

The Cabinet Committee on Economic Affairs on Thursday approved the Rs 12,031 crore scheme on Green Energy Corridor Phase-II for Intra-State Transmission Systems that will lead to the addition of 10,750 circuit kilometres of transmission lines and 27,500 Mega Volt-Amperes transformation capacity of substations, according to an official statement. 

The scheme will facilitate grid integration and power evacuation of approximately 20 GW of renewable energy power projects in the seven states of Gujarat, Himachal Pradesh, Karnataka, Kerala, Rajasthan, Tamil Nadu and Uttar Pradesh.

The scheme is targeted to be set up with a total estimated cost of Rs. 12,031.33 crore and Central Financial Assistance (CFA) @ 33 percent of the project cost which works out to Rs. 3970.34 crore, the statement explained. .

The transmission systems will be created over a period of five years from Financial Year 2021-22 to 2025-26. The Central Financial Assistance will help in offsetting the Intra-State transmission charges and thus keep the power costs down. Thus, the Government support will ultimately benefit the consumers.

The scheme will help in achieving the target of 450 GW installed renewable energy capacity by 2030.

The scheme will also contribute to long term energy security of the country and promote ecologically sustainable growth by reducing carbon footprint. It will generate large direct & indirect employment opportunities for both skilled and unskilled personnel in power and other related sectors.

This scheme is in addition to GEC-Phase-I which is already under implementation in the States of Andhra Pradesh, Gujarat, Himachal Pradesh, Karnataka, Madhya Pradesh, Maharashtra, Rajasthan and Tamil Nadu for grid integration and power evacuation of approx. 24 GW of renewable energy power and is expected to be completed by 2022. The scheme is for addition of 9700 ckm of transmission lines and 22600 MVA capacity of substations having estimated cost of transmission projects of Rs 10,141.68 crore with Central Financial Assistance of Rs. 4056.67 crore.

Also read:  PM Modi unveils Rs 11,281 crore worth hydropower projects in Himachal for big push to green energy