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India approves $19 billion for renewable energy programme
Oct 01, 202605:07 PM
Reuters - India's cabinet has approved a 1.86 trillion rupees ($19.42 billion) renewable energy programme to help improve existing grids and add storage, the country's information minister said on Wednesday.
A 1.36 trillion rupees scheme will strengthen the country's transmission system within states to enable evacuation of up to 135 Gigawatt (GW) of clean energy, the government said in a statement.
The funding approval comes as India struggles to ramp up its transmission network in tandem with the clean energy capacity being added every month.
India also announced a 500 billion rupees incentive scheme for installation of 50 gigawatt-hours of battery energy storage systems as the country lacks adequate storage to save the clean energy generated during the day.
The incentives come as India targets raising its non-fossil fuel based power capacity to 500 GW by 2030 from 304 GW at present.
