India intends to achieve net-zero emissions by 2070, as promised at the COP26 event in Glasgow last year. In addition, India aims to achieve 50% of its energy needs from renewable sources by 2030 and to increase non-fossil fuel electricity generation capacity to about 500 GW in the current decade.
In view of these goals, the Government of India (GoI) has authorized a multibillion-dollar plan to build transmission lines to connect renewable energy installations to the grid.
Establishing “green energy corridors”
In two stages, India is establishing “green energy corridors.” On its website, India’s Ministry of New and Renewable Energy states, “The Green Energy Corridor Project focuses on synchronizing electricity supplied from renewable sources, like solar and wind, with traditional power stations in the grid.” According to the Hindustan Times, one phase will provide 20 gigawatts (GW) of renewable power to the national grid.
According to the report, the government is also in the midst of constructing 63 GW of renewable power capacity. By 2030, cumulative non-fossil fuel power capacity is predicted to rise by 66%. India’s renewable energy production capacity would expand by 16 GW in the financial year 2023, as per rating agency ICRA. India plans to reduce predicted carbon emissions by one billion tons by 2030.
Green energy investments are also steadily increasing. Green energy ventures in India got $7.27 billion in foreign direct investments from 2014-15 to June 2021. The United States received $797.21 million of this total in 2020-21.
The government also wants to make sure that the national grid isn’t jeopardized by the massive increase in electricity generated by renewable energy sources like solar and wind. The grid frequency stays within the range of 49.90-50.05 Hz (hertz) because of the upkeep of the aforementioned corridors. According to the study, the government also recently installed an Automatic Generation Control (AGC), that sends signals to power stations every four seconds to sustain frequency and provide a more dependable electricity grid.
From Financial Year 2021-22 to Financial Year 2025-26, transmission systems will be built over a five-year period. The Central Financial Assistance (CFA), according to the statement, will offset intra-state distribution charges and maintain power costs low. By 2022, another stage of the project should be able to supply approximately 24 GW of renewable energy. India has established a non-fossil energy capacity of 157.32 GW. According to the report, this accounts for 40.1 percent of total installed electricity capacity.