Jul 4, 2014 - The Indian government plans to pour more than INR 2 trillion (USD 33.5bn/EUR 26bn) by 2022 into a long-term programme that aims to make use of the country’s wind and solar power potential in desert areas.
As part of the plan, the country will build wind and solar parks and related transmission infrastructure in the Thar, Rann of Kutch, Lahul & Spiti and Ladakh deserts, the Business Standard said today. Initial calculations show that the project will require an investment of INR 2.08 trillion, of which INR 1.08 trillion will go for the installation of up 10,400 MW of solar and 700 MW of wind farms. Some INR 198 billion will be used for building transmission lines and INR 800 billion will be allocated for balancing infrastructure. If the programme is to be extended to 2032 or 2050, the needed financing will grow to INR 16 trillion and INR 43 trillion, respectively.
According to the report, domestic utility Power Grid Corp of India Ltd (BOM:532898) has filed a detailed report with the Ministry of New and Renewable Energy (MNRE) describing the estimated potential in said areas, including the cost of building the renewable facilities and their economic viability.
India’s power demand is expected to reach 890,000 MW by 2050, against 240,000 MW at present, which will require an installed power production capacity of 1,300,000 MW.
(INR 100 = USD 1.673/EUR 1.230)
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