India's Cabinet of Ministers approved a program worth 1,86 trillion rupees (about $19,42 billion) for the development of renewable energy. The funds will be directed toward modernizing intrastate grids and creating energy storage systems.
Of the total sum, 1,36 trillion rupees will go toward strengthening electricity transmission within states. This will make it possible to evacuate up to 135 GW of clean energy, the government reported.
Additionally, 500 billion rupees will be allocated to incentivize the installation of 50 GWh of battery storage systems. Such capacity will help store energy generated during the day and use it during peak hours.
The decision was made against the backdrop of rapid growth in renewable capacity. The grids are not yet keeping pace with the rate of commissioning new solar and wind stations, which leads to generation curtailment.
The program will become the third phase of the "Green Energy Corridor." Its implementation is planned through financial year 2032–2033 and includes central support in the amount of 54 billion rupees.
The goal is to bring capacity based on non-fossil sources to 500 GW by 2030. Currently this figure stands at 304 GW. How will this affect the cost of electricity for end consumers?
The approval of the program underscores India's priority in developing green energy and addressing the challenges of integrating renewable sources into a unified grid.
