Journalism of Courage
This is an archive article published on January 6, 2022
Cabinet approves Rs 12,000 crore for second phase of Green Energy Corridor
The estimated cost of the scheme is Rs 12,031 crore, and 33 per cent of the project cost — around Rs 3,970.3 crore — will be met as central financial assistance.
With acquisition of the plant, Torrent Power’s total generation capacity will reach 4.7 GW.
The Cabinet Committee on Economic Affairs (CCEA) on Thursday approved the second phase of the Green Energy Corridor scheme.
About 10,750 circuit kilometres (ckm) of transmission lines and around 27,500 mega volt-amperes (MVA) of sub-station capacity will be installed to facilitate electricity evacuation of around 20 giga watt (GW) of renewable energy projects in Gujarat, Himachal Pradesh, Karnataka, Kerala, Rajasthan, Tamil Nadu and Uttar Pradesh in this phase.
The estimated cost of the scheme is Rs 12,031 crore, and 33 per cent of the project cost — around Rs 3,970.3 crore — will be met as central financial assistance.
The transmission systems will be created between FY22 and FY26, and the central financial assistance is seen to lower the transmission charges, which will translate into lower power costs.
Most projects for the first phase of the green energy corridor scheme have been awarded through tariff-based competitive bidding. Though the size of the second phase of the scheme is higher than the first phase, it will receive lesser financial assistance from the Centre. Under the first phase, 9,700 ckm of transmission lines and 22,600 MVA of substations are being constructed at an estimated cost of Rs 10,141.7 crore.
The first phase is eligible for central financial assistance of Rs 4,056.7 crore. —FE
© The Indian Express Pvt Ltd
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