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| WBGECL to invest Rs 750cr to meet renewable energy quota |
| Margaret Williams / Kolkata Apr 17, 2009, 00:58 IST |
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In a bid to fulfill the renewable energy quota as fixed under the Electricity Act 2003, which mandates all states to source a certain portion of their power requirement from renewable energy sources, West Bengal Green Energy Corporation Limited (WBGECL), the state's nodal renewable energy agency, has outlined investments worth Rs 700-750 crore over the next two to three years.
Speaking to Business Standard, S P Gonchaudhuri, managing director, WBGECL pointed out that the state, at present, hardly sourced 2-3 per cent of its total power requirement from renewable energy source, roughly 100 megawatt (MW), of which 50 per cent was from biomass and the rest solar.
However, under the Electricity Act 2003, by 2012, all state utilities should be able to source a minimum of 10 per cent from renewable sources.
“Our potential lies in biomass and solar areas unlike states of Tamil Nadu and Karnataka which has potential in wind and hydel primarily. WBGECL's target is to source a minimum of 150 MW of power from renewable energy by 2011-12,” he said .By 2015, we want to increase it to 500 MW, which will require investments worth Rs 5,000 crore.
"To attract more private investment we are even looking at forming a new seperate state level renewable energy policy and incentive scheme. Work is on, it will take another two-three months," he added.
Many renewable energy projects are expected to go onstream this year. Recently, India's first grid connected two megawatt level solar power project, worth around Rs 36 crore came onstream in Asansol. Another 14 projects will be commissioned by 2011-12.A couple of companies from Australia, Germany and from within India have also shown interest. Germany-based Beck Energy, which was GECL's technology partner for the Asansol project has approached GECL to start its own independent solar project in West Bengal. Details were yet to be worked out, said Gon Chaudhuri.
A large chunk of future renewable energy projects would be done by the private sector. Government would help in terms of land and incentives and provide the technology support etc, Chaudhuri pointed out.
The Central Electricity Regulatory Commission is also planning to set up a renewable power exchange and bring in the model of renewable energy certificates, to make all states comply with an existing rule to have certain portion of their power grid reserved for green energy.
Pramod Deo, chairman, CERC, said “ We are looking at creating an exchange and trading mechanism of renewable energy certificates. The papers have been submitted for public discussion, it will be on the website soon for public forum. If there are no difficulties the certificates' mechanism will be operational in less than two months' time.
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