Mumbai, Oct. 8 -- The Green Energy Corridor Phase-III scheme is expected to help India integrate its expanding renewable energy capacity, according to Simon Stiell, executive secretary of the United Nations Framework Convention on Climate Change. The Union Cabinet approved the scheme on Wednesday.
GEC-III will establish an intra-state transmission system supported by battery storage to evacuate 135 GW of renewable energy. The programme also aims to address curtailment, under which grid operators restrict renewable power generation to maintain grid stability.
Stiell said the initiative would support people's daily electricity needs, strengthen economic growth and reinforce India's position as a global solar power leader. He also identified battery storage as an opportunity for large economies to improve energy security while supporting economic expansion.
The scheme has a total project outlay of Rs. 1.86 tn. Of this, Rs. 1.36 tn has been allocated for developing the intra-state transmission system, while Rs. 500 bn will fund 50 GWh of battery energy storage systems.
The government will provide central financial assistance of Rs. 540.82 bn under the programme. This support is intended to offset intra-state transmission charges and help keep electricity costs lower for consumers and other users.
Stiell said stronger power networks and battery storage could generate employment in manufacturing, construction and energy storage. The investments are also expected to support India's participation in the wider global expansion of renewable energy and electrotechnology.
Published by HT Digital Content Services with permission from Construction World.