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States consider subsidies to increase uptake of renewable energy
The recently concluded RE-INVEST Summit 2024 in Gandhinagar, Gujarat, significantly boosted India's energy transition plans. Banks and non-banking financial companies (NBFCs) committed to financing loans worth ₹24.8 lakh crore for energy transition by 2030.
Dr.G.R.Balakrishnan Sep 20 2024 Marine News (Ocean and Offshore Energy)

States consider subsidies to increase uptake of renewable energy

Speaking to CNBC-TV18 on the sidelines of the summit, Andhra Pradesh Chief Minister N. Chandrababu Naidu emphasised the need for all states to align with Prime Minister Narendra Modi's vision for enhancing renewable energy adoption

He mentioned that work is underway on a policy aimed at increasing the uptake of offshore wind energy in terms of cost efficiency and said expanding the use of solar power, green hydrogen, and other renewable energy sources is only a matter of time. He also pointed out the immense employment opportunities associated with green hydrogen and indicated that his state may soon announce additional measures to attract investment in green energy

Goa Chief Minister Pramod Sawant said the state has floated tenders to increase wind energy capacity. He noted that, in addition to existing policies, subsidies are being considered to promote the use of renewable energy by establishing more capacity.

He said the state is already in discussions with investors to attract investment, leveraging its abundant mineral reserves. Additionally, he expressed support for the Centre's review petition in the Supreme Court, where it has contested the verdict mandating payment of royalty to mineral-bearing states.

Telangana is working aggressively to achieve a renewable energy capacity of 20 GW by 2030 through attracting investment. Deputy Chief Minister Mallu Bhatti Vikramarka told CNBC-TV18 that the state plans to introduce a progressive renewable energy policy aimed at leading among fellow states in meeting India's 500 GW target.