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Vedanta Group is currently building more than 1,000-megawatts of wind/solar hybrid projects across Karnataka. It will then send it through the inter-state transmission system to the smelters located in Rajasthan, Chhattisgarh, and Odisha.
Vedanta group owns Sterlite Power.
“Over the next five-years, we plan on increasing the renewable capacity 10-fold and investing close to Rs 50,000 crore in renewable generation. Pratik Agarwal (Managing Director, Sterlite Power) stated that Karnataka will receive a large portion of this investment.
Agarwal, speaking at the Global Investors Meet, urged Karnataka to adopt an intra-state transmission system through PPP (public-private partnership). The state will need to strengthen the grid as electricity consumption rises at double the rate. This model has been tried and tested by many states.
Two critical transmission lines are being built for the Government of India. One connects Karnataka with Kerala, and the other connects it to Maharashtra via Goa. He elaborated that both these lines are crucial for the exchange of renewable energy over the next years.
He stated that Karnataka is one of the most important contributors to India’s brand, with Bengaluru being the key. Agarwal stated that India’s dependence upon imported electronics is the next mission.
“We will start by making semiconductors, and we will reduce the $16 billion import bill on this account. He said that we will also invest in display manufacturing because we already make display glass in Korea, Taiwan, and are the fourth largest in this sector in the world.”
“We envision India becoming a net exporter in the coming years of electronic products.” He said that Karnataka would play a key role in realizing this dream.