Why is it in the news?
- The Cabinet Committee on Economic Affairs has approved the 13 GW Renewable Energy Project in Ladakh, a significant initiative aimed at promoting renewable energy generation and reducing carbon footprint.
More about the news
- In 2020, the Prime Minister announced the establishment of a 7.5 GW Solar Park in Ladakh.
- After extensive surveys, the Ministry of New and Renewable Energy (MNRE) devised a plan for a 13 GW Renewable Energy capacity with a 12 GWh Battery Energy Storage System (BESS) in Pang, Ladakh.
- To transmit this substantial power, an inter-state transmission infrastructure is necessary.
- Targeted completion by FY 2029-30.
- Central Financial Assistance (CFA) will cover 40 percent of the project cost.
- Power Grid Corporation of India Limited (POWERGRID) is the designated Implementing Agency.
- The transmission line will pass through Himachal Pradesh and Punjab, connecting to the National Grid in Kaithal, Haryana.
- This project complements the Intra-State Transmission System Green Energy Corridor Phase-II (InSTS GEC-II) in several states.
- Achieving Renewable Energy Targets: Contributes to the goal of achieving 500 GW of non-fossil fuel-based electricity capacity by 2030.
- Energy Security: Enhances long-term energy security for the country.
- Sustainability: Promotes ecologically sustainable growth by reducing the carbon footprint.
- Employment Generation: Provides significant direct and indirect employment opportunities in the power and related sectors, particularly benefiting the Ladakh region.