Construction Industry News
The Department of Energy plans to require any thermal power producer planning to install new generating capacity after April 1, 2024 to either establish or acquire an equivalent renewable energy capacity. This will increase the country's capacity for renewable energy.
It intends to amend the 2016 Tariff Policy to include the "renewable generation obligation (RGO)" provision to put it into practice.
A concept note released and circulated to stakeholders on November 7 sought feedback on the plan within 21 days of that date.
The Department of Energy has recommended that as part of that, any new generation company planning to set up a coal- or heat-based capacity after April 1, 2024 also be required to generate or produce a comparable amount of renewable energy. acquire.
“In order to promote renewable energy sources, any generating company proposing to build a coal or lignite based thermal generating plant after a certain date should be required to establish such renewable energy equivalent to that capacity, such as may be prescribed by the Central Government from time to time after due consultation with stakeholders,” the statement read.
The renewable energy capacity to be realized, acquired or supplied by new coal or lignite-based thermal power plants must be at least 25% of the capacity of the thermal power plants under construction, it was further added.
The project aims to reach the goal of producing 50% of electricity from non-fossil fuels.
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