NEW DELHI: In a bid to achieve the target of 450 GW installed renewable energy capacity by 2030, the government on Thursday approved the second phase of green energy corridor with an outlay of Rs 12,031 crore.
The scheme will facilitate grid integration and power evacuation of approximately 20 GW of renewable energy (RE) power projects in seven states- Gujarat, Himachal Pradesh, Karnataka, Kerala, Rajasthan, Tamil Nadu and Uttar Pradesh.
“The Cabinet Committee on Economic Affairs, chaired by the Prime Minister, Narendra Modi, today approved the scheme on Green Energy Corridor (GEC) Phase-II for Intra-State Transmission System (InSTS) for addition of approximately 10,750 circuit kilometres (ckm) of transmission lines and approx. 27,500 Mega Volt-Amperes (MVA) transformation capacity of substations,” said the power ministry in a statement.
The government said the project is targeted to be set up with total estimated cost of Rs 12,031.33 crore and Central Financial Assistance (CFA) at 33 % of the project cost i.e. Rs 3,970.34 crore.
Under the scheme, the transmission systems will be created over a period of five year from financial year 2021-22 to 2025-26.
“The Central Financial Assistance (CFA) will help in offsetting the intra-state transmission charges and thus keep the power costs down. Thus, the government support will ultimately benefit the end users - the citizens of India,” said the statement.