New Delhi, July 31 The Government is planning to set up an additional 80 GW coal-based power capacity with an investment of Rs 6.67 lakh crore by 2031-32 to meet the growing demand for electricity in the country.
The target has been fixed following a study carried out by the Central Electricity Authority (CEA). As per the study results, it is envisaged that to meet the base load requirement of the country in 2032, the required coal & lignite based installed capacity would be 283 GW against the present installed capacity of 217.5 GW, according to information provided by Minister of State for Power Shripad Naik to the Rajya Sabha.
The estimated capital cost for setting up new coal-based thermal capacity as considered in the National Electricity Plan is Rs 8.34 crore/MW (at 2021-22 price level). Hence, the thermal capacity addition is expected to entail an expenditure of a minimum Rs 6,67,200 crore by 2031-32.
The minister also said that to reduce the dependency on coal-based thermal power plants, the Government of India has planned to augment non-fossil fuel-based installed electricity generation capacity. India in its Intended Nationally Determined Contributions (INDCs) stands committed to achieving about 50 per cent cumulative electric power installed capacity from non-fossil fuel-based energy resources by 2030. At present India has already achieved 45.5 per cent Installed Capacity from non-fossil fuel-based resources.
Among the steps taken to promote Renewable Energy Generation in the country, significant measures include allowing Foreign Direct Investment (FDI) up to 100 per cent under the automatic route; waiving Inter-State Transmission System (ISTS) charges for inter-state sale of solar and wind power for projects to be commissioned by June 30, 2025.
The government has also declared a trajectory for Renewable Purchase Obligation (RPO) up to the year 2029-30 and has set up Ultra Mega Renewable Energy Parks to provide land and transmission connectivity to Renewable Energy developers for installation of RE projects at large scale.
Additionally, the government has laid new transmission lines and created new sub-station capacity under the Green Energy Corridor Scheme for evacuation of renewable power.
Various policies and initiatives like the Green Term Ahead Market (GTAM) have been launched to facilitate the sale of Renewable Power through exchanges, while the National Green Hydrogen Mission aims to make India a global hub for the production, utilisation and export of Green Hydrogen.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor