Green Investing in India – Largest Electricity Producing State Maharashtra looks to boost Renewable Energy through Subsidized Grid Connection and Grants
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September 24, 2010Maharashtra is one of the most industrialized states in India but it lags behind other states in Renewable Energy.The recent mandate by the Central Electricity Regulator to increase the requirement of Renewable Energy to 6% of Electricity Produced found Maharashtra having a severe shortfall.Maharashtra has the largest power capacity in the country with around 21 GW but most of it is thermal based generation.Despite having the second largest Wind Power Capacity with 2 GW which is around 42% of the state’s potential.However Maharashtra is still considerably short of the 6% Renewable Purchase Obligation (RPO) set by it.With CERC set to increase the Green Energy Target to 10% by 2015,Maharashtra needs not only to meet the shortfall but also to increase the share of Renewable Energy.
Other Major Industrialized states like Gujarat and Tamil Nadu are attracting tons of investment in solar and wind energy.Gujarat has become a top Green Investment Destination due to strong subsidies given by the state government over there.Maharashtra is now looking to clean up its act by providing Subsidies and grant to Wind and Biomass Energy.The State Government will give a $110,000 grant per MW of Wind Energy and also bear the interconnection costs to the grids plus providing money for building access roads to the Green Energy Plants.Note the huge power deficit and government push for Green Energy makes Renewable Focused Utilities one of the best ways to green invest in India.
Maha govt offers sop to power generators, distributors – Moneycontrol
The Maharashtra government has finally given the disgruntled generators and distributors of renewable power companies a much-needed pick-me-up. With the aim of meeting its policy targets of 3500 MW of renewable energy, the government is offering some heavy-duty incentives.
For wind power projects with a target capacity of 2,000 MW, the government will bear the cost of infrastructure development up to Rs 5 lakh per MW. It will also pay for redevelopment of approach road to these projects up to Rs 10 lakh per kilometre. Also, the government will bear the total cost of power evacuation up to a limit of Rs 35 Lakhs per MW.
For biomass projects with a target generation of 400 MW, the government will reimburse the total cost of power evacuation up to Rs 4 crore per project.
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[…] Tamil Nadu showing the way,Gujarat and Maharashtra the other two Industrially Powerful States in India have also started to push Green Energy in a big […]
[…] has a strong renewable energy policy framework and industry due to its leadership in wind energy.Maharashtra is one of the most deficient industrally advanced states in renewable energy.It has come up with a large mandatory solar RPS […]