The Union Cabinet on Thursday approved the second phase of the Green Energy Corridor of the inter-state transmission system at a cost of Rs 12,000 crore. Under this scheme, about 10,750 circuit kilometer of transmission line and conversion capacity of about 27,500 MW Ampere sub-stations will be connected. The scheme will achieve grid integration and power extraction of about 20 GW of Renewable Energy (RE) power projects in seven states including Gujarat, Himachal Pradesh, Karnataka, Kerala, Rajasthan, Tamil Nadu and Uttar Pradesh.
During the press briefing, Information and Broadcasting Minister Anurag Thakur said, “The second phase of the Green Energy Corridor will be implemented between 2021-22 and 2025-26.”
The Cabinet Committee on Economic Affairs (CCEA) said that the scheme is targeted to be set up with a total estimated cost of Rs 12,031.33 crore and central financial assistance 33 per cent of the project cost i.e. Rs 3970.34 crore. The central financial assistance will help in meeting the inter-state transmission charges and thus reduce the cost of electricity.
The project will also contribute to the country’s long-term energy security and promote ecologically sustainable development by reducing its carbon footprint. The Union Cabinet said that it will create huge direct and indirect employment opportunities for both skilled and unskilled personnel in power and other related sectors.
The scheme is an important component of India’s plan to generate 500 GW of renewable energy by 2030. German state-owned investment and development bank group KfW will provide the loan for the scheme. It is the largest national development bank in the world.
The cabinet has also approved the construction of a bridge over the Mahakali river on the Nepal border. The bridge is expected to benefit people living on both sides of the river which serves as the international border.
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