Cabinet clears Rs 1.86 lakh crore Green Energy Corridor Phase-III
The Union Cabinet on Wednesday approved the Rs 1,86,405-crore Green Energy Corridor Phase-III, to evacuate up to 135 GW of renewable power by 2032-33 with 50 GWh of battery storage. Central assistance of Rs 54,082 crore will offset transmission charges and keep power costs down.
The Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday approved the Green Energy Corridor Phase-III (GEC-III), the largest single outlay yet for India's renewable power grid: Rs 1,86,405 crore by 2032-33.
The scheme will strengthen the Intra-State Transmission System (InSTS) to evacuate up to 135 gigawatts of renewable energy across states and Union Territories. Of the total outlay, Rs 1,36,378 crore will go to transmission infrastructure and Rs 50,000 crore to 50 gigawatt-hours of Battery Energy Storage Systems (BESS), to tackle intermittency, grid congestion and peak-hour curtailment.
The Centre will provide Rs 54,082 crore in financial assistance, offsetting intra-state transmission charges and keeping electricity costs lower for consumers. Greenfield projects will be awarded through tariff-based competitive bidding on a build-own-operate-maintain model, with state transmission utilities as implementing agencies.
Information and Broadcasting Minister Ashwini Vaishnaw, who briefed the media, said the scheme — presented internally as "PM Dhara" — will create jobs in manufacturing, construction and energy storage, and called it "a big push towards 900 GW non-fossil capacity by 2035."