The much-awaited wind-solar hybrid policy has been announced by the government. The industry had been asking for a hybrid policy that would help earn a better return on their capital, and its prayers have finally been answered.
To boost renewable power generation, the policy aims to promote new projects as well as make some of the existing one’s hybrid. Under the policy, solar farm and wind farms will be connected to a common grid, thus efficiently utilising the transmission infrastructure and the land bank.
After a strong start, the renewable energy sector had run into rough weather, both at the operating level as well as the regulatory level. The poor financial health of state electricity boards (SEBs) forced them to default on their power purchase agreements (PPAs).
The government has set a target of 175 gigawatt (GW) of renewable power which includes 100 GE of solar and 60 GW of wind power capacity. India currently has an installed base of 70 GW of alternate power. By 2030, nearly 40 percent of India’s installed capacity will be from renewable power. Most of the incremental power generation capacity is renewable in nature. Read More
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