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Government Scheme Greenlights Rs 13,595 Crore RE Projects

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The new ISTS schemes will facilitate renewable energy transmission from two Indian states.

On Saturday, the central government announced that it has approved new Inter State Transmission System (ISTS) schemes designed to transport 9 Gigawatts (GW) of renewable energy from Rajasthan and Karnataka. 

These projects will be executed using the tariff-based competitive bidding (TBCB) approach. These form a crucial component of India’s ambition to achieve 500 gigawatts (GW) of renewable energy capacity by 2030, with 200 GW already integrated into the grid. The cost of the projects is estimated to be Rs 13,595 crores, almost equivalent to 181.27 million USD.

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The segment of the scheme called the Rajasthan Renewable Energy Zone (REZ) power evacuation plan aims to transport 4.5 gigawatts (GW) of renewable energy from the state. This includes 1 GW from the complex in Fategarh, 2.5 GW from the Barmer Complex, and 1 GW from the Nagaur (Merta) Complex. 

The electricity will be transmitted to the Mainpuri Region, Fatehpur, and Orai in Uttar Pradesh. The project is slated for completion within two years and is estimated to cost approximately Rs 12,241 crore, which is about 163.21 million USD.

The Karnataka counterpart of the project aims to transmit 4.5 GW of renewable energy from the Koppal and Gadag areas. Scheduled for completion by June 2027, the scheme is budgeted at approximately Rs 1,354 crore, roughly equivalent to 18.05 million USD.

This initiative underscores India’s commitment to expanding its renewable energy infrastructure, enhancing energy security, and promoting sustainable development in the coming decade.

The new government and the reshuffled power ministry is maintaining a focus on expanding transmission and storage capacities to enhance the integration of renewable energy and stabilise the grid. Recently, Manohar Lal Khattar, formerly Haryana’s chief minister and now Union Power Minister, discussed bolstering storage and transmission capabilities with senior officials.

According to a February 2024 report by CareEdge Ratings, India needs approximately 12 gigawatts (GW) of storage capacity, assuming 4 hours of storage per GW for FY24. This requirement is projected to increase to about 70 GW by FY30.

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