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This state gave a green signal regarding green energy and got Rs 1,000 crore approval PM Modi | This state gave the green signal regarding green energy, got Rs 1000 crore approval; PM Modi has praised money moguls


Photo: ARCHIVE This state gave green signal regarding green energy

Green Power News: State-owned SJVN said on Saturday that its Green Energy subsidiary has bagged a 200 MW solar power project in Maharashtra. The cost of this project is Rs 1,000 crore. The company has informed the stock market that the company’s wholly owned subsidiary SJVN Green Energy Limited (SGEL) has received the letter of acceptance from the Maharashtra State Electricity Distribution Company Limited (MSEDCL). This project will be completed in 18 months. This period will begin from the date of execution of the Power Purchase Agreement (PPA) with MSEDCL. The company reported that the cost of the project would be around Rs 1000 crore. The project will generate Rs 45.55 crore of power units in the first year and the total power generation over a period of 25 years will be Rs 1,048 crore. With the implementation of this project, it is expected to reduce carbon emissions by 5,13,560 tons.

PM Modi has also praised green energy.

Inviting investment in the field of green energy, Prime Minister Narendra Modi said last month that the country’s potential in the field of renewable energy is nothing short of a gold mine. Addressing a webinar on various announcements made in the General Budget 2023-24 regarding green growth, the Prime Minister said that India will play an important role in the field of green energy. I invite all interested parties to invest in India. The potential of renewable energy like solar, wind and biogas in India is no less than a gold mine. All government attention is focused on biofuels and it will open up immense opportunities for investors. India has reached the 10% ethanol blend target five months ahead of schedule and not only that, the 40% non-fossil fuel capacity target has been reached nine years ahead of schedule.

Modi paid attention to these things.

Modi said that in all the budgets that came after the year 2014, not only current challenges were taken into account, but new-age reforms were also brought forward. He said that India aims to produce 5 million tons of green hydrogen per year and an incentive of Rs 19 billion has been given to the private sector under the National Hydrogen Mission. In this webinar, he also mentioned the provision of Rs 3000 crore in the general budget for scrapping vehicles and the decision to convert around three lakh government vehicles that are more than 15 years old to scrap. The Prime Minister said that India needs to increase battery storage capacity to 125 GW.

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