INSTALLATION OF 500 GW OF RENEWABLE ENERGY CAPACITY BY 2030

  • India’s plan to install 500 GW (gigawatt) of renewable energy capacity by 2030 will involve an investment of at least ₹2.44 lakh crore or ₹2.44 trillion, according to a committee constituted by the Central Electricity Authority (CEA).
  • “The plan we are launching today is in line with our commitments and it will also pave the way for adding the required generation capacity,” said R.K. Singh, Minister for Power and Renewable Energy, at an event to launch the committee’s report on Wednesday.
  • As part of its international climate commitments, India has said that it will source roughly half its energy needs from non-fossil fuel sources by 2030.
  • Financing the energy transition of developing countries such as India is among the thorniest geo-political issues, with India having said multiple times at United Nations climate conferences that “trillions of dollars” would be required.
  • The committee, headed by the Chairman of the Central Electricity Authority, had representatives from the Solar Energy Corporation of India, Central Transmission Utility of India Ltd, Power Grid Corporation of India Ltd, National Institute of Solar Energy, and National Institute of Wind Energy.
  • They were tasked with setting out a plan for the transmission system required for having 500 GW of non-fossil fuel-based installed capacity by 2030.
  • The transmission plan also includes systems required for transporting 10 GW of off-shore wind-based energy located in Gujarat and Tamil Nadu at an estimated cost of ₹28,000 crore.
  • The inter-regional capacity will increase to about 1.5 lakh MW by 2030 from 1.12 lakh MW at present.
  • The plan has identified upcoming non-fossil fuel generation centres in the country, including at Fatehgarh, Bhadla and Bikaner in Rajasthan, Khavda in Gujarat, and Anantapur and Kurnool in Andhra Pradesh.

SOURCE: THE HINDU, THE ECONOMIC TIMES, PIB

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