The Government of Gujarat has announced the Renewable energy policy for the State of Gujarat with an aim to achieve 100 GW of RE capacity by 2030 i.e. 50% of the power through renewable energy. The state government expects to attract investment of nearly Rs 5 lakh crore in the renewable energy sector with the help of this policy, said the release, adding that an estimated 36 GW of solar and 143 GW of wind capacity will be harnessed. The policy is effective from October 4, 2023 to September 30, 2028.
Gujarat Urja Vikas Nigam Limited (GUVNL) will implement the policy and Gujarat Energy Development Agency (GEDA) will be acting as the Nodal Agency. The Policy encourages setting up wind, solar and hybrid (wind solar) power projects in the state of Gujarat. Benefits under the policy will be extended to a project for 25 years from the date of commissioning or its lifespan, whichever is earlier.
Congratulating the Chief Minister and the State Government, D. V Giri, Secretary General of IWTMA (Indian Wind Turbine Manufacturers Association) said, “This policy can be a game-changer for the sector in Gujarat. It can also serve as a template for other states to follow. The far-sightedness and vision of this policy is highly appreciated. We are particularly delighted with the comprehensive approach to address the needs of all stakeholders of the sector from OEMs, to project developers, IPPs and captive or C&I customers. It is especially heartening to see the inclusion of the MSMEs as investors in the sector.”
Further lauding the policy, the association spokesperson said, “This policy will go a long way in giving the right framework for growth of renewable energy in the state while supporting our national targets. This move is also reflective of the government’s commitment to the states net-zero journey. We look forward to similar policies from other windy states as well.”
Photo courtesy: Reuters
