The Indian federal government is investigating the feasibility of boosting renewable energy capacity through the utilization of electricity grids by various sources.
The plan will involve discussions on utilizing the same transmission capacity for different energy sources at various times of the day. This approach would enable additional renewable energy projects to be connected to the same substation.
By allowing multiple uses of the same electricity grid for power transmission, it is anticipated that transmission capacity will be enhanced.
Bhupinder Singh Bhalla, Secretary of the Ministry of New and Renewable Energy, stated to the media that India has sufficient transmission capacity, with some areas where it remains underutilized.
Although he asserted that only a few isolated regions encounter issues with power connectivity and transmission, he indicated that the list of capacity availability and connections is incorporated into renewable energy bidding documents.
Additionally, the federal government collaborates with states to guarantee they initiate management plans for increased capacities in transmitting renewable energy.
India's goal of achieving a renewable energy capacity of 500 GW by 2030 hinges on reducing the current gap of 300 GW largely through sustainable sources. The Secretary stated that India requires investments exceeding Rs.30 lakh crore in its renewable energy sector, noting that banks and NBFCs have committed approximately Rs.32 lakh crore towards facilitating an energy transition within the next six years comprising both debt and equity funding avenues.
Regarding the Ministry of Finance's management of green bonds, he stated that there is currently no particular request for PSUs to obtain access to these types of bonds.
Copyright © 2024 HomesIndiaMagazine. All Rights Reserved.
