India Plans to Spend 6 Billion Euros on Wind & Solar Transmission

India plans to spend 6 billion euros ($7.9 billion) to build an electricity grid to evacuate power from wind and solar plants that have more than doubled in capacity in the last five years.

The grid will be built across seven states over the next five to six years, Ratan P. Watal, secretary at the Ministry of New and Renewable Energy, said in New Delhi. The project will receive 250 million euros “soon” from KfW Group, a German development bank, he said.

India is doubling its transmission capacity to avoid blackouts such as the world’s largest failure last year, which left about half its population in the darkness. As part of measures taken to stabilize its grid, the government last month asked wind farms to accurately predict their output a day in advance or face fines.

KfW will finance a total 1 billion euros, Watal said. The grid will also receive funds from the World Bank, Asian Development Bank, India’s National Electricity Fund and state governments, he said.

Pimagazine Asia Admin

Recent Posts

Insuring Wind Turbines, What is the Risk?

Gallagher Re has shed light on the significant challenges insurers face when providing coverage for…

8 months ago

ARENA Start Feasibility Study in Western Australia

The Australian government will disburse AUD 1.7 million (USD 1.1m/EUR 1m) in grant funding to…

8 months ago

Asia moving away from Solar?

GlobalData’s latest report, ‘Asia Pacific Renewable Energy Policy Handbook 2024’ is among the latest region-specific…

8 months ago

Asia’s Energy Challenge 2024

The electrical generation market is facing a number of challenges, including the need to increase…

8 months ago

Powering Progress: Nuclear Energy’s Role in Asia’s Energy Landscape

Nuclear energy has emerged as a prominent player in Asia's energy landscape, offering a reliable…

1 year ago

Charting a Cleaner Path: Carbon Capture and Storage in Asia

The pursuit of a low-carbon future has gained significant momentum globally, and Asia stands tall…

1 year ago