India plans to spend 1.8 billion USD in solar power transmission lines

India plans to spend 1.8 billion USD in solar power transmission lines

Date: Dec 25th 2016

India will invest 127 billion rupees (about 1.8 USD dollars) in the transmission of solar power transmission lines, in order to achieve Prime Minister Moody's 2022 clean energy capacity of 175 GW target.

On 21 December, the government said in a series of reports that dedicated transmission lines were part of the Indian Green Corridor project, which would carry 20 GGW of electricity from 34 solar parks in 21 states. These reports were written by the Indian power grid company, for the development of integrated renewable energy to the national grid plan.

The Green Corridor project is part of India's plan to increase the transmission capacity in order to achieve clean power production and to seamlessly transport electricity to the power shortfalls. The new transmission lines will also help manage the intermittent challenges of renewable energy, particularly in some states, where clean energy accounts for 50% of the electricity generated.

The government said the country's investment in transmission lines will reach 800 billion rupees (about 1.2 billion USD), while the transmission lines between countries need 47.45 billion rupees (about 702 million USD).

India will receive a concessional loan of 1 billion EUROs from the German bank Renaissance for the development of the Green Corridor.

According to the plan, the transmission lines between the states will be funded by the government 20%, while 40% of the funds to the National Clean Energy Fund funding form, the remaining 40% is a concessional loan. State line investment in India accounted for 30% of power grids, the remaining 70% of concessional loans.