Cabinet Committee on Economic Affairs approves Rs 12,000 crore for the second phase of Green Energy Corridor | Daily Current Affairs 2022
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Cabinet Committee on Economic Affairs approves Rs 12,000 crore for the second phase of Green Energy Corridor

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Phase-II of Green Energy Corridor

Phase-II of Green Energy Corridor: The Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi recently approved the second phase of the Green Energy Corridor of the Intra-State Transmission system (InSTS) at a cost of Rs 12,000 crore.

Key Highlights:

  • The scheme is an addition to the Green Energy Corridor phase-1.
  • The second phase of the Green Energy Corridor will be implemented during 2021-22 to 2025-26 fiscal years.
  • This scheme has been given for InSTS for the addition of approximately 10,750 circuit kilometres of the transmission lines and approx. 27,500 Mega Volt Amperes transformation capacity of substations.
  • Eighty percent of the phase one of the scheme has been completed and the outlay of the first phase was Rs. 10,142 crores.
  • The scheme will facilitate grid integration and power evacuation of approximately 20 GW of Renewable Energy power projects in seven states in Gujarat, Rajasthan, Himachal Pradesh, Karnataka, Kerala, Tamil Nadu and Uttar Pradesh.
  • The estimated cost of the scheme is Rs 12,031 crore, and 33% of the project cost — around Rs 3,970.3 crore — will be met as Central Finance Assistance (CFA).

Significance:

  • The second phase of the Green Energy Corridor Scheme will further contribute to the long-term energy security of India and will promote ecologically sustainable growth by reducing carbon footprint.
  • It will help in achieving the target of 450 GW installed RE capacity by 2030.
  • It will also facilitate in generating large direct and indirect employment opportunities for both the skilled and unskilled personnel.

About India’s Green Energy Corridor:

  • Green Energy Corridor is a comprehensive scheme for evacuation & integration of the renewable energy (RE) capacity addition of 32,713 MW during 12th Plan Period.
  • The Green Energy Corridor in India aims at synchronizing the electricity produced from renewable resources, such as wind and solar, with the conventional power stations in the grid.
  • They are being set up in two phases.
    • Phase 1 of the Green Energy Corridor is already under implementation in Gujarat, Rajasthan, Himachal Pradesh, Maharashtra, Madhya Pradesh, Andhra Pradesh, Karnataka and Tamil Nadu.
  • It is working for the grid integration and power evacuation of about 24GW of Renewable Energy.
    • The second phase of the transmission corridors aims to supply 20 gig watts (GW) of Renewable Energy (RE) to the national grid from the seven states i.e., Gujarat, Himachal Pradesh, Karnataka, Kerala, Rajasthan, Tamil Nadu and Uttar Pradesh.
  • The objective of the green energy corridor is to evacuate approx. 20,000 MW of large-scale renewable power and improvement of the grid in implementing states.

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