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Guj Govt eyes 2.20 lakh crore investment in renewable energy

Press Trust of India  |  Gandhinagar 

The government is eyeing cumulative investment of Rs 2,20,000 crore during the next 10 years in the sector, said here Thursday.

While an investment of Rs 1,00,000 crore is expected in the next three years in solar and wind power generation projects, another Rs 1,20,000 crore would be invested by private players in 'hybrid parks', wherein both wind and solar projects can come up at the same location, said Patel.

Under their three-year plan for the renewable energy sector, the intends to generate 10,000 mega watt(mw) through and 5,000 mw through wind energy, Patel told reporters.

Some of the major projects envisaged for the next three years include a 5,000 mw solar park at Dholera and 1,000 mw project near Pipavav port, where windmills will be installed in the sea near the port.

"We have planned to attract an investment of Rs 1,00,000 crore in the next three years in these projects.

At present, production in stands at 7,645 mw, that is 28 per cent of total power production of the state," said Patel.

"By 2022, we intend to produce 22,922 mw of through solar and wind, which will be around 54 per cent of total power production of the state.

In the long run, our push will be on rather than conventional generation," the senior minister said.

To attract new players in this sector, Patel said the wastelands located near 66kv substations all over will also be alloted for solar power generation.

"We have already identified 50 such sub-stations, around which, land is available.

As per estimates, 3,000 mw of can be generated through solar parks built on those tracts of land," said Patel.

Under the recently launched 'wind-solar hybrid power policy - 2018', aiming to make optimum utilisation of the land and grid, the aims to generate 30,000 mw of electricity with an investment of Rs 1,20,000 crore in the next 10 years, Patel said.

Under the policy, a developer of a solar project can use the same land for setting up wind power projects and vice-versa.

"We will give land to developer on 40-year lease. Our aim is to generate 30,000 mw of power in the next 10 years. This will attract an investment of Rs 1,20,000 crore. The government will only provide land on rent. All the investment will be done by private players," he said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, January 10 2019. 19:21 IST