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

Research Desk

Next Post

Hiranandani to invest Rs 1,000 crore in Chennai industrial park

Mon Sep 16 , 2019
GreenBase, a fully owned subsidiary of real estate conglomerate, Hiranandani Group, will create a wind turbine park and warehousing set-up for Vestas India at Oragadam near Chennai. The development will be spread over half a million sq. ft. The ground breaking ceremony for the ‘built to suit’ set-up took place […]
Hiranandani group

Categories

Blog Stats