Context:
Recently, the Uttar Pradesh Cabinet approved Rs 619.90 crore for the Green Energy Corridor project in Bundelkhand.
- The Central Government will fund 33% of the project under the Green Energy Corridor-2 scheme, the State Government will cover 20% and 47% will be provided as a capital grant from the German company KFW.
- A Green Energy corridor is being set up to facilitate the evacuation of power of 4000 MW capacity.
- Bundelkhand Saur Urja Pvt Ltd (BSUL) have been formed to develop Solar Parks.
- A 400/220 kV substation and transmission lines will be built in Chitrakoot to evacuate energy from the 800 MW solar project and supply electricity to Chitrakoot, Banda, and nearby areas.
Objectives:
- Drive significant growth in renewable energy capacity, focusing on solar, small-scale hydro, and biomass power.
- Attract private and international investment in renewable energy with a liberal FDI policy and attractive subsidies.
- Boost sustainability by increasing the share of renewable energy in the state’s energy mix.
- Support the development of solar parks and renewable energy infrastructure through stamp duty exemptions to ease land acquisition