Chennai : The Tamil Nadu government will establish 15 new power projects under the PPP mode with a total capacity of 14,500 MW at an estimated cost of Rs.77,000 crore by 2030. The Government will also bring out a comprehensive policy to promote investment in pumped hydroelectric storage in the State, Finance Minister PTR Palanivel Thiagarajan announced in the State Assembly, while presenting the budget for the year 2023-24, today.
He said with the objective of fulfilling the increasing demand for power in the State, the Government intends to double the installed capacity for power generation in the State by adding 33,000 MW by 2030, giving high priority to development of renewable energy sources.
The present contribution of green energy to the State grid at 20.88 per cent is proposed to be increased to 50 per cent by 2030 through additional capacity creation. With solar energy potential of 20 GW, onshore wind energy potential of 70 GW and offshore wind energy potential of 30 GW, Tamil Nadu has immense renewable energy resources and opportunities, he said.
“To transform Tamil Nadu into a green power house with more than 50 per cent of power generation from renewable sources by the year 2030, the Government will create a dedicated Special Purpose Vehicle”, he said, adding, further, a new policy on repowering windmills in the State will be evolved. Mr Palanivel Thiagarajan also said pumped storage hydroelectric projects will be established under PPP mode to meet the peak hour power demand in the State.
He said the 500 MW pumped hydroelectric storage project being constructed at Kundah will be operational by 2024-25. “Further, 15 more projects will be established under the PPP mode with a total capacity of 14,500 MW at an estimated cost of Rs.77,000 crore by 2030”, headdded. He also said the on-going thermal power projects of 4100 MW will be completed expeditiously. To automate fetching of metered data, a smart metering system will be installed with prepaid functionality for all paid consumer connections under the RDSS scheme. As a result of the structural and systemic reforms undertaken by the Government, the fiscal position of TANGEDCO has improved slightly and it is expected that the loss of TANGEDCO will be reduced to Rs.7,825 crore in 2022-23 from Rs.11,955 crore in 2021-22.
He said the 500 MW pumped hydroelectric storage project being constructed at Kundah will be operational by 2024-25.”Further, 15 more projects will be established under the PPP mode with a total capacity of 14,500 MW at an estimated cost of Rs.77,000 crore by 2030″, headdded. He also said the on-going thermal power projects of 4100 MW will be completed expeditiously. To automate fetching of metered data, a smart metering system will be installed with prepaid functionality for all paid consumer connections under the RDSS scheme.
As a result of the structural and systemic reforms undertaken by the Government, the fiscal position of TANGEDCO has improved slightly and it is expected that the loss of TANGEDCO will be reduced to Rs.7,825 crore in 2022-23 from Rs.11,955 crore in 2021-22. An allocation of Rs.14,063 crore has been provided in the Budget Estimates towards various subsidies provided to TANGEDCO, he said.
