Indian Economy News

Odisha targets 3k mw green energy capacity addition

Bhubaneswar: The Odisha government has set an ambitious target to add 3,000 megawatt (Mw) renewable energy capacity by 2022 in its draft Odisha Renewable Energy Policy.

The target include 2,300 mw in the solar sector, 350 Mw from wind sources, 150 Mw from the small hydro-electricity projects, 180 mw from biomass and 20 Mw from municipal solid waste (msw).

The solar sector is divided into four areas such as land based solar projects (500 Mw), projects utilising water bodies (250 Mw), projects on the consumer side of the meter (50 Mw), solar park (1,500 Mw). The state government intends to set up three-four solar parks with combined capacity of 1,500 Mw between 2015 and 2022.

It may be noted that Odisha receives an average solar radiation of 5.5kWh/sqm area with around 300 clear sunny days every year. National Institute of Solar Energy (NISE) has estimated solar power potential of the state at 25,780 mwp2.

The installed capacity of alternate energy projects in Odisha include 31.5 Mw from solar photovoltaic plants, 64.30 Mw from small hydro power units and 20 Mw of bio mass power generation.

As per the draft policy, the state government will create a separate Odisha Renewable Energy Development Fund (OREDF) within six months of notification of the new policy for accelerated development of renewable energy in the state. "The state government will evolve other suitable mechanisms for generating financial resources for further increasing capital of this fund. This fund will be utilised for creation of infrastructure such as transmission network, roads etc. for accelerated development of renewable energy as per the guidelines issued by state government in this regard", read the draft policy.

The state government will provide a corpus of Rs 500 crore in next five years for creation of the development fund. The fund will be released by the government in tranches of Rs 100 crore every year. Apart from the state's contribution, OREDF will be supported by the resources mobilised through the Green Energy Development Corporation Limited (Gedcol) by collection of development charges and funds collected under the 'Environment Development Fund' by the state for environment protection and development measures.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.

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