T green energy policy aims at Rs 2 lakh cr investments, 1L jobs

Hyderabad: The state cabinet has reportedly approved a new green and renewable energy policy, offering a range of tax incentives and benefits for the sector. The state hopes to attract investments worth Rs 1.98 lakh crore and generate 1.14 lakh jobs over the next decade once it rolls out the policy and adds 20,000 megawatts of renewable energy capacity by 2030.The govt has proposed reimbursement of stamp duty for land acquired for establishing green energy plants. Additionally, all MSMEs utilising solar and wind energy would enjoy electricity duty exemption for eight years. Also, the requirement of no objection certificates (NOCs) from Pollution Control Board would be eliminated, and various approvals will be streamlined via TS-iPASS system. Water charges for solar facilities would also be reimbursed.The Congress govt plans to promote rooftop solar installations in govt schools, Indiramma houses, public buildings and village panchayat offices. Land parcels designated for solar, wind, pumped storage, battery energy storage, and other renewable projects would be classified as non-agricultural, with no limits on land use. There would be no need for permission to change land use, according to the policy.New plants could be established on both private and govt land, with govt parcels available for lease at minimal costs. The state would also refund its GST share related to capital investments.The policy would also encourage women's self-help groups to set up solar power plants with capacities between 500 kilowatts and 2 megawatts, with Discoms committed to purchasing the generated electricity.Under the new policy, developers would be encouraged to set up solar, wind, and pumped storage power plants, as well as wind energy centres. The establishment of floating solar projects on reservoirs would be promoted through competitive bidding, with reservoirs allocated to central and state agencies for these projects.To foster advanced technology and innovation in renewable energy, the state govt would set up a special incubation centre under the guidance of Transco or Discom.Govt sources said the policy aims to add 20,000 megawatts of renewable energy capacity by 2030. It introduces new pathways for the state's inclusive development.The state's peak electricity demand is expected to reach 15,623 megawatts in 2024-25 and increase to 31,809 megawatts by 2034-35.In light of future needs, the govt has set a target to increase renewable energy capacity. The new policy not only promotes solar energy, but also floating solar, wind power, green hydrogen, and hybrid projects.As part of the new policy, govt has approved open access to green energy. In other words, companies producing green energy need not sell their energy only through govt-owned distribution entities (Discoms). With the connection to the grid, customers (mostly industries and companies) can directly purchase power from green energy companies as well. The Centre mandates this policy for the states.