Centre to develop 2,000 MW clean energy parks for $2 billion

The Union government is planning to make state-run companies to build massive clean energy parks at a cost of around $2 billion each, with built-in incentives to ensure states and operators are invested in the success of the parks.

According to a Mint report, the proposed ultra-mega renewable energy power parks (UMREPP) of 2,000 megawatts (MW) each will help developers achieve economies of scale and further bring down solar and wind power tariffs.

“Setting up such parks will bolster India’s image as a clean energy champion at a time the world is grappling with concerns related to climate change. Clean energy projects now account for more than a fifth of India’s installed power generation capacity,” it said further.

Quoting Anand Kumar, Secretary, Ministry of New and Renewable Energy, it said, “Various public sector undertakings have been urged to set up ultra-mega renewable energy plants in major states in collaboration with state governments through SPV mechanism for these parks.”

Image Credit : www.dnaindia.com

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