Gujarat eyes 2.2 tln investment in renewable energy in 10 yrs

Gandhinagar: Gujarat, which already leads the green energy segment,is eyeing a whopping Rs 2.20 trillion investments into the renewable energy sector over the next decade, state energy minister Saurabh Patel said Thursday.

While an investment of Rs 1 trillion is expected in the next three years in solar and wind power generation projects, another Rs 1.20 trillion can be invested by private players in hybrid parks, where both wind and solar projects can come up at the same location, he said, adding this investment can generate 30,000 mw of green energy by 2029.

Under a three-year plan for the renewable energy sector, the state intends to generate 10,000 mw of solar and 5,000 mw of wind energy, Patel told reporters here.

Some of the major projects envisaged for the next three years include a 5,000-mw solar park at Dholera and a 1,000-mw wind energy project near the Pipavav port, where windmills will be installed in the sea near the port.

"We are eyeing an investment of Rs 1 trillion over the next three years in these projects. At present, renewable energy production in the state stands at 7,645 mw, which is 28 percent of the total generation in the state" said Patel.

He also said by 2022, the state plans to produce 22,922 mw electricity of solar and wind power, which will be around 54 percent of the total power production in the state.

"In the long-run, our push will be on renewable energy and not conventional sources," he added.

To attract new players into this sector, Patel said the wastelands located near 66-kv substations all over the state will be allotted for solar plants.

"We've already identified 50 such sub-stations, which have surplus land. As per our estimate, 3,000 mw of solar power can be generated from these land parcels," said Patel.

Under the recently launched Wind-solar hybrid power policy--2018, which aims to make the optimum utilization of the land and grid, the state aims to generate 30,000 mw at an investment of Rs 1.20 trillion over the next 10 years,he said.

The policy allows a solar project developer to use the same land for setting up wind power projects and vice versa.

"We'll give land to the developer on 40-year lease.

Our aim is to generate 30,000 mw in the next 10 years. This will attract an investment of Rs 1.20 trillion. We will only provide the land on rent while money will from private players" he added.

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