To reach 500 GW of renewable energy by 2030, the Union Cabinet has allotted ₹12,461 crore for the building of 31,350 MW hydropower projects. The plan provides fiscal support for roads, transmission lines, ropeways, and communication infrastructure. It is valid from FY25 to FY32. It provides funding for 15,000 MW of pumped storage projects (PSPs) and encompasses hydro projects over 25 MW, including private sector endeavors.
Cabinet Approves ₹12,461 Cr for 31,350 MW Hydropower Projects
The Union Cabinet has approved an investment of ₹12,461 crore to support the development of hydropower projects with a combined capacity of 31,350 MW. This decision marks a significant step toward strengthening India’s renewable energy sector and ensuring long-term energy security.
Project Overview
The government’s financial commitment is aimed at accelerating the construction of hydropower projects across various states. The initiative aligns with India’s goal of achieving a sustainable and reliable power infrastructure.
Key Highlights of the Approval
- Total Investment: ₹12,461 crore
- Generation Capacity: 31,350 MW
- Scope of Development: Construction of new hydropower plants and modernization of existing infrastructure
- Targeted Regions: Multiple states with favorable hydropower potential
Significance & Benefits
The approval is expected to bring numerous benefits, including:
- Energy Security: A steady supply of renewable energy to meet the growing power demand.
- Reduced Carbon Emissions: Transition from fossil fuel-based energy to cleaner alternatives.
- Economic Growth: Creation of employment opportunities and industrial development in power sector.
- Improved Grid Stability: A reliable power source to balance supply fluctuations.
Implementation & Timeline
The projects will be implemented in phases, with completion timelines varying based on the complexity and location of each plant. The government will work closely with state authorities and private players to ensure timely execution.
Challenges & Mitigation Strategies
Despite its advantages, hydropower development faces challenges such as environmental concerns, displacement issues, and high initial costs. The government plans to mitigate these by:
- Implementing stringent environmental safeguards.
- Providing rehabilitation packages for affected communities.
- Encouraging private sector participation through incentives and policy support.
The Cabinet’s approval of ₹12,461 crore for hydropower projects reaffirms India’s commitment to renewable energy expansion. These projects will not only enhance energy availability but also contribute to the nation’s sustainability goals, ensuring long-term economic and environmental benefits.
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Construction, Infrastructure and Mining
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