Uttar Pradesh Gets Investment Proposals Of Rs 4782 Crores For Renewables

The outcome of GBC 3 (third ground breaking ceremony) has been quite fruitful for the state of Uttar Pradesh in the renewable energy sector development and energy transition. In the most recent case, key players have vowed to invest in the renewable energy segment as investment proposals of Rs 4782 crore have come up for the development of clean energy.

A sector-wise analysis of the distribution of the proposals reveals that 23 projects in the renewable energy sector will be developed in 21 districts out of the states 75 districts. These are Jalaun, Mau, Ballia, Azamgarh, Sitapur, Jhansi, Banda, Fatehpur, Kanpur, Noida, Auraiya, Sonbhadra, Agra, Ambedkarnagar, Badaun, Mahoba, Mirzapur, Pilibhit, Pratapgarh, Shahjahapur, and Unnao.

Uttar Pradesh is lagging well behind to achieve its solar energy target of 10.5 GW by the end of 2022. By October 2021, the largest state of India had merely added 4.3 GW of total renewable energy which is less than a third of its commissioning target of 14.1 GW. Fresh investments provide a ray of hope that may expedite the renewable projects in UP. These have been helped along by state owned energy firms in no small measure.

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In the fresh investment proposals, state owned SJVN shall be investing Rs 1000 crore through three solar power projects in Uttar Pradesh. Two of these will come up in Jalaun and the third will be implemented in Kanpur. The proposals have come under the category of projects worth over Rs 500 crore. The two Jalaun based solar projects will attract investments of Rs 791 crore.

In the category Rs 500 – 200 crore, private sector AMP Energy will implement a project of Rs 450 crore in Ballia and another project of Rs 300 crore Mau. Multiple projects in the same category will also come up in Azamgarh, Jhansi, Sitapur, Banda, Fatehpur, Auraiya, Noida and Sonbhadra.

As far as the projects of Rs 200 – 10 crore value are concerned, SAEL Limited will make the largest investment of Rs 170 crore in Jalaun. Hindustan Petroleum will also invest Rs 125 crores in Badaun.

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Uttar Pradesh requires more such investments as a joint report by Institute for Energy Economics and Financial Analysis, and think tank Ember holds that UP’s renewable energy dash lags behind and more so in the solar segment as the state has added just 2 GW of solar power which is just 19 per cent of the target. As always, the rooftop segment offers a glaring opportunity, and the biggest miss, with the state having barely 180 MW of rooftop capacity versus a target of 4300 MW out of the 10500 MW target for 2022.