As per the Generation Expansion Planning studies carried out by the Central Electricity Authority (CEA) for 2029-30, the share of non-fossil fuel-based generation capacity in the total installed capacity of the Country is likely to increase from around 42% as of Oct 2022 to more than 64% by 2029-30. This would reduce the dependence on fossil fuels in electricity generation and promote alternative sources of power like solar and wind.
In order to support energy transition and reduce carbon footprint, the following steps have been taken to promote renewable power in the country:
- Permitting Foreign Direct Investment (FDI) up to 100 percent under the automatic route.
- Waiver of Inter-State Transmission System (ISTS) charges for inter-State sale of solar and wind power for projects to be commissioned by 30th June 2025.
- Declaration of a trajectory for Renewable Purchase Obligation (RPO) up to the year 2029- 30.
- Setting up of Ultra Mega Renewable Energy Parks to provide land and transmission to RE developers for installation of RE projects at a large scale.
- Schemes such as Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM- KUSUM), Solar Rooftop Phase II, 12000 Mega Watt (MW) Central Public Sector Undertaking (CPSU) Scheme Phase II, etc.
- Laying of new transmission lines and creating new sub-station capacity under the Green Energy Corridor Scheme for evacuation of renewable power.
- Standard Bidding Guidelines for tariff-based competitive bidding process for procurement of Power from Grid Connected Solar Photovoltaic (PV) and Wind Projects.
- Notification of Promoting Renewable Energy through Green Energy Open Access Rules 2022.
- Launch of Green Term Ahead Market (GTAM) to facilitate the sale of Renewable Energy Power through exchanges.
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This information was given by Shri R.K Singh, Union Minister for Power and New and Renewable Energy in a written reply in Rajya Sabha.