Energy Minister V Sunil Kumar said that several investors have signed Memorandum of Understanding (MoUs) for the development of renewable energy (RE) projects in Karnataka that have a cumulative worth of ₹1,68,545 crore at Bengaluru on November 4.
Speaking at the closing ceremony of Global Investors Meet (GIM), the minister said that the projects are expected to add 12,340 MW (megawatts) of installed RE capacity in the State and create over 35,000 new jobs.
“Karnataka will be the first state to produce 50 per cent of its energy from renewable sources within 2030 as per the target set by Prime Minister Narendra Modi’s target during the COP26 summit,” he added. Currently, Karnataka has a total installed capacity of 30,000 MW and over 15,800 MW of it is produced using renewable resources.
“Karnataka will be strengthening its power infrastructure to aid its industrial growth. Detailed Project Report (DPR) for hybrid parks have been prepared and location for pump storage has been identified to boost RE in Karnataka,” he said.
In the earlier State budget, the government had announced that new hybrid parks (those with both solar panels and wind turbines) will come up in several districts which will cumulatively produce a total of 5,000 MW of green energy.
Some of the industry leaders who have signed the MOUs include Suzlon Energy, Torrent Power and Blueleaf Energy. Kumar thanked all the investors who have signed MoUs and stated, “When new investments and projects come up, grid management and substation management is going to become challenging. However, I am confident that we will be able to manage it successfully. We have successfully managed all challenges in the past year. We have built 36 new sub stations and upgraded over 100 existing substations.”
He added that Karnataka has always been a pioneer in RE and the Pavagada Solar Park, which has an installed capacity of 2050 MW, was created long ago. The Karnataka government has also brought out the new ‘Renewable Energy Policy 2022-27.’