Govt approves renewable energy transmission schemes worth Rs 13,595 cr
Notable because
Achieving India’s ambitious target of establishing 500 GW of non-fossil-based electricity generation hinges on three aspects. The first is capacity addition. The second is adequate transmission infrastructure. The third is storage to address the variable nature of solar- and wind-based RE generation. These schemes seek to address the second aspect. The 9 GW of RE capacity the transmission infrastructure will serve equates to half of the over 18 GW of RE added in FY24.
What to look out for in the months ahead
Activity in the RE sector is on a clear upward trajectory in India. In FY24, over 18 GW of RE capacity was added, auctions for over 40 GW of RE capacity were concluded, and the four renewable energy implementing agencies (REIA) announced tenders for over 47 GW of RE capacity. Will we now see an increasing focus on the third aspect, i.e., storage, particularly as FY24 saw BESS prices drop by over 50% vs FY22?