CHENNAI: Finance Minister Thangam Thennarasu has unveiled the state’s ambitious goal to produce 100 billion units of renewable energy, one of the main drivers to achieve a trillion-dollar economy by 2030. Plans for establishing 11,500 MW of pumped storage hydropower stations across 12 identified locations were also revealed in the budget. In his speech, Thennarasu also made a mention of the green energy company, established recently as the first step in the journey towards a sustainable future.
However, concerns were raised from various quarters as the minister omitted details regarding water sources for the hydroelectric plants as well as land allocation for wind and solar energy installations.
Meanwhile, experts in the power sector said the state’s reliance on unpredictable factors like monsoon and inter-state water supply could be the major deciding factors for the success of pumped storage plants.
S Nagalsamy, a former member of Tamil Nadu Electricity Regulatory Commission, told TNIE, “As of now, Tangedco operates 47 hydropower stations with a combined capacity of 2,321.90 MW. The stations generated 6,174.08 million units in 2022-23. But, in the current financial year, the utility produced only 4,000 million units so far.” He said the decline in power generation is due to water scarcity.
K Kasthurirangan, Chairman of the Indian Wind Power Association, expressed optimism about achieving the renewable energy target by 2030, citing the union government’s plans to gradually reduce conventional power generation. He urged the state government to swiftly implement the Repowering Policy and allocate adequate land for wind projects to facilitate the transition.