UN Climate Chief: Green Energy Corridor to Boost India's Renewable Capacity

New Delhi: The Green Energy Corridor Phase-III (GEC-III) scheme is a major step forward which will deliver significant benefits for India's people and economy, UN climate chief Simon Stiell said on Thursday.

The scheme, approved by the Union Cabinet on Wednesday, aims to set up an intra-state transmission system with battery storage to evacuate 135 GW of renewable energy. It also seeks to address curtailment, which occurs when grid operators limit power output from renewable sources to maintain grid stability.

In a statement on the initiative, Stiell, executive secretary of the UN Framework Convention on Climate Change (UNFCCC), said, "It will help harness the country's growing renewable energy capacity, helping power people's daily needs, boost India's economic growth, and further strengthen India's status as a global solar superpower."

"Battery storage provides a strategic opportunity for major economies like India to achieve energy security and economic growth," he added.

The GEC-III scheme has a total project outlay of Rs 1,86,405 crore, comprising Rs 1,36,378 crore for the development of the intra-state transmission system and Rs 50,000 crore for 50 GWh of battery energy storage systems (BESS).

It carries a central financial assistance of Rs 54,082 crore, which will help offset the intra-state transmission charges and thus keep power costs down.

Stiell said, "Stronger power grids and battery storage will create more jobs in manufacturing, construction and energy storage, and drive forward India's opportunities, as the global renewables and electrotech revolution charges ahead."