The state government expects to attract investment of nearly Rs 5 lakh crore in the renewable energy sector with the help of this policy
The Gujarat government on Wednesday rolled out the renewable energy policy with an aim to generate 50 per cent of power through renewable energy sources by 2030.
The Gujarat Renewable Energy Policy-2023 was unveiled by chief minister Bhupendra Patel in the presence of Energy Minister Kanubhai Desai in Gandhinagar, said a state government release. It will remain in effect till 2028.
The state government expects to attract investment of neary 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.
Ground-mounted solar, rooftop solar, floating solar, canal top solar as well as wind, rooftop wind and wind-solar hybrid projects will be covered under the policy, said the release, adding that approximately 4 lakh acres of land is expected to be utilised for renewable energy plants.
Prime Minister Narendra Modi has set the country the target of net zero emissions by 2070 by increasing the use of green energy sources, said the release, adding that the Gujarat government's policy will help the country achieve that target.
Benefits under the policy will be extended to a project for 25 years from the date of commissioning or its lifespan, whichever is earlier.
The Gujarat Energy Development Agency (GEDA) will act as nodal agency for project registration, validation, commissioning certificate and monthly progress report.
There will be no restrictions on the capacity to set up RE projects with respect to the consumer's contracted demand, said the release, adding that RE power settlement against consumer consumption will be carried out based on billing cycle.
Small-scale rooftop wind projects can be installed by consumers under the policy. They will be given options of net metering or gross metering.
Besides offshore wind projects, the policy will also facilitate wind turbine generator (WTG) manufacturers and RE developers to install prototype WTGs.
Conversion of existing installed wind power plants or stand-alone wind or solar power plants into hybrid projects will be facilitated under this policy. Moreover, no banking charges will be applicable on the solar power consumed by residential customers, while banking charges as determined by GERC from time to time will be applicable for other customers.