The cabinet committee on economic affairs (CCEA) authorised the second phase of the green energy corridor scheme on Thursday. Approximately 10,750 circuit kilometres (ckm) of transmission lines and around 27,500 mega volt-amperes (MVA) of sub-station capacity will be installed in Gujarat, Himachal Pradesh, Karnataka, Kerala, Rajasthan, Tamil Nadu, and Uttar Pradesh in this phase to facilitate electricity evacuation from around 20 gigawatts (GW) of renewable energy projects.
The initiative is expected to cost Rs 12,031 crore, with federal financial aid covering 33% of the project cost – roughly Rs 3,970.3 crore. Transmission infrastructure will be built between FY22 and FY26 and the central financial aid is expected to cut transmission charges, resulting in cheaper electricity costs.
‘This is yet another positive announcement for the power sector to drive renewables penetration in the country’, Pratik Agarwal, managing director of Sterlite Power, said.
The majority of the first phase of the green energy corridor scheme projects were awarded through tariff-based competitive bidding.
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Despite the fact that the second phase of the programme is larger than the first, it will receive less financial support from the government. The first phase of the green energy corridor programme involves the construction of 9,700 km of transmission lines and 22,600 MVA of substations at a cost of Rs 10,141.7 crore. The first phase is eligible for Rs 4,056.7 crore in government funding. The first phase’s deadline was originally set for December 2020, however, it was then extended until June 2022.
To ferry 24 GW of renewable energy-based electricity, the first phase is being implemented in Andhra Pradesh, Gujarat, Himachal Pradesh, Karnataka, Madhya Pradesh, Maharashtra, Rajasthan, and Tamil Nadu. 8,405 km of transmission lines and 15,268 MVA of substations had been installed by the end of October 2021.
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