Min highlights Centre’s interventions for RE sector

IndiGlobal Bureau

The Union Minister for Power and New & Renewable Energy RK Singh made a mention of how Renewable Energy is going to be one of the main sources of electricity generation in 7-8 years time from now. In a written reply in Rajya Sabha, Mr Singh pointed to a study, (published in 2020) to project Optimal Generation Capacity, that estimated power from renewable energy sources would be nearly 30 percent of the total electricity generation in the country by 2029-30.

The Union Minister highlighted that the government undertook several steps to promote renewable energy in the country to achieve the goal of 500 GW of RE 2030, in line with the Prime Minister’s announcement at CoP-26 Summit.

These include:

• Permitting Foreign Direct Investment (FDI) up to 100 percent under the automatic route,
• Waiver of Inter State Transmission System (ISTS) charges for inter-state sale of solar and wind power for projects to be commissioned by 30th June 2025,
• Declaration of trajectory for Renewable Purchase Obligation (RPO) up to the year 2030,
• Setting up of Ultra Mega Renewable Energy Parks to provide land and transmission to RE developers on a plug and play basis,
• Schemes such as Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM-KUSUM), Solar Rooftop Phase II, 12000 MW CPSU Scheme Phase II, etc,
• Laying of new transmission lines and creating new sub-station capacity under the Green Energy Corridor Scheme for evacuation of renewable power,
• Setting up of Project Development Cell for attracting and facilitating investments,
• Standard Bidding Guidelines for tariff based competitive bidding process for procurement of Power from Grid Connected Solar PV and Wind Projects.
• Government has issued orders that power shall be dispatched against Letter of Credit (LC) or advance payment to ensure timely payment by distribution licensees to RE generators.