• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 2 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 5 days The United States produced more crude oil than any nation, at any time.
  • 10 days e-truck insanity
  • 10 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 6 days How Far Have We Really Gotten With Alternative Energy
  • 9 days James Corbett Interviews Irina Slav of OILPRICE.COM - "Burn, Hollywood, Burn!" - The Corbett Report
  • 9 days The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 10 days Biden's $2 trillion Plan for Insfrastructure and Jobs
  • 10 days "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)
Tesla to Lay Off Over 10% of Global Workforce

Tesla to Lay Off Over 10% of Global Workforce

Tesla is laying off over…

The Rise and Fall of Master Limited Partnerships

The Rise and Fall of Master Limited Partnerships

Master limited partnerships (MLPs) were…

The Oil Price Rally Has Stalled... For Now.

The Oil Price Rally Has Stalled... For Now.

Oil prices have been climbing…

Metal Miner

Metal Miner

MetalMiner is the largest metals-related media site in the US according to third party ranking sites. With a preemptive global perspective on the issues, trends,…

More Info

Premium Content

India Is Preparing Its Power Grid For A Major Renewable Energy Expansion

  • India aims to reach Net-Zero goals by 2070
  •  The Government of India has approved a multibillion dollar plan of setting up transmission projects for power supply from these renewable energy projects
Power Grid

In line with India’s commitment at the COP26 summit in Glasgow last year, the country aims to reach net-zero by 2070.

Furthermore, India seeks to meet 50% of its energy needs by 2030 through renewable sources and expand non-fossil fuel power generation capacity to 500 GW in this decade.

In light of these targets, the Government of India (GoI) has approved a multibillion dollar plan of setting up transmission projects for power supply from these renewable energy projects.

Setting up ‘green energy corridors’

India is setting up “green energy corridors” in two phases.

“The Green Energy Corridor Project aims at synchronizing electricity produced from renewable sources, such as solar and wind, with conventional power stations in the grid,” India’s Ministry of New and Renewable Energy says on its website.

One phase will supply 20 gigawatt (GW) of renewable energy to the national grid, the Hindustan Times reported.

Furthermore, the country is in the process of building 63 GW of renewable energy capacity, according to the report. Installed non-fossil fuel power capacity is expected to increase by 66% by 2030.

According to ratings agency ICRA, India’s renewable energy generation capacity will increase by 16 GW in fiscal year 2023.

India aims to cut projected emissions of carbon will by 1 billion tons by 2030.

Also, investments in green energy are steadily going up. From 2014-15 to June 2021, green energy projects in India received foreign direct investments worth U.S. $7.27 billion, the Hindustan Times reported. Of this amount, U.S. $797.21 million came in during 2020-21.

The government is also aiming to ensure the national grid doesn’t get threatened by the huge surge in electricity from sources such as solar and wind. Through the maintenance of the aforementioned corridors, the grid frequency remains within the 49.90-50.05 Hz (hertz) range. Also, the country recently commissioned an Automatic Generation Control (AGC), which sends signals to power plants every four seconds to maintain frequency and makes for a more reliable power grid, according to the report.

Powering up

Transmission systems will be created over a five-year period from Fiscal Year 2021-22 to Fiscal Year 2025-26. According to the statement, the Central Financial Assistance (CFA) will offset the Intra-State transmission charges and keep power costs low.

Another phase of the project is expected to help supply around 24 GW of renewable energy by 2022.

ADVERTISEMENT

India has installed 157.32 GW of non-fossil based energy capacity. That accounts for 40.1% of total installed electricity capacity, the report stated.

By AGMetalminer.com

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News