State-run Companies to Make Green Energy Parks

State-run companies present in the conventional power space such as NTPC Ltd. and Power Grid Corp. of India Ltd. (PGCIL) etc. are being roped in to build massive green energy parks across the country. The plan has built-in incentives to ensure states and operators are invested in the success of the parks.

Highlights

• The proposed ultra-mega renewable energy power parks (UMREPP) would be of 2,000 megawatts (MW) capacity and would involve a cost of around $2 billion each and would be setup by state run companies.
• The plants are to be set up in wind and solar resource rich states such as Jammu and Kashmir, Andhra Pradesh, Gujarat, Karnataka, Madhya Pradesh, Maharashtra, Rajasthan, Tamil Nadu and Telangana.
• Parks will be set up under the existing Solar Park scheme, which provides the building blocks—land and grid connectivity—and will be implemented by a special purpose vehicle (SPV) which will include state government and the sponsoring state firm.
• Such massive clean energy parks would help developers in achieving economies of scale and further bring down solar and wind power tariffs.