Andhra Pradesh government has decided to implement a comprehensive action plan to maked the state a renewable energy hub in the next four years.
As part of this plan, the government has contemplated to achieve 5,000 MW solar power and 4,000 MW wind power by 2019 to meet the twin objectives of energy security and clean energy considerations, an official release issued here said.
Impressed with the new solar and wind policy, KFW, a German Bank, has agreed to sanction Rs 515 crores at concessional rate of interest towards green energy corridor.
The AP government is now contemplating to constitute a taskforce for expediting renewable energy projects, it said.
Secretary (Energy) Ajay Jain, discussed with concerned officials the impact of solar and wind projects and the steps to be initiated by power utilities for completion of green energy corridor with an estimated cost of Rs 1,289 crores, with the support of Centre and international financial institutions.
Jain said that Andhra Pradesh Chief Minister N Chandrababu Naidu has thanked the Centre for sanctioning Rs 515 crores grant for evacuation of wind power and green energy corridor.
The APTRANSCO and Discoms would soon initiate steps to mobilise the balance investments from Power Finance Corporation (PFC) and Rural Electrification Corporation (REC).
The Discoms would procure around 2,000 MW of solar power capacity in a phased manner within the next 4 to 5 years and they would enter a long-term Power Purchase Agreement (PPA) of 25 years with developers who are selected, based on a competitive procurement process.
The government has initiated all measures to develop the solar park with a capacity of around 2,500 MW, with support of Centre, public undertaking sectors like National Thermal Power Corporation ( NTPCBSE 0.67 %), NVVL, Ministry of New and Renewable Energy (MNRE) etc, he said.