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To fulfil the increasing demand for power in the State, the Tamil Nadu Government intends to double the installed capacity by adding 33,000 MW by 2030 with high priority to renewable energy sources.
The present contribution of green energy to the State grid at 20.88 per cent will be increased to 50 per cent by 2030 through additional capacity creation.
With solar energy potential of 20 GW, onshore wind energy potential of 70 GW and offshore wind energy potential of 30 GW, Tamil Nadu has immense renewable energy resources and opportunities, Finance Minister Palanivel Thiaga Rajan said in the Budget 2023-24 on Monday.
SPV to drive capacity
The Government will create a dedicated Special Purpose Vehicle. Further, a new policy on repowering windmills in the State will be evolved.
Pumped storage hydroelectric projects will be established under PPP mode to meet the peak hour power demand in the State. The 500 MW pumped hydroelectric storage project being constructed at Kundah will be operational by 2024-25. Further, 15 more projects will be established under the PPP mode with a total capacity of 14,500 MW at an estimated cost of ₹77,000 crore by 2030.
The Government will bring out a comprehensive policy to promote investment in pumped hydroelectric storage in the State. Further, on-going thermal power projects of 4100 MW will be completed expeditiously.
To automate fetching of metered data, a smart metering system will be installed with prepaid functionality for all paid consumer connections under the RDSS scheme.
As a result of the structural and systemic reforms undertaken by the Government, the fiscal position of Tangedco has improved slightly and it is expected that the loss of Tangedco will be reduced to ₹7,825 crore in 2022-23 from ₹11,955 crore in 2021-22. An allocation of ₹14,063 crore has been provided in the Budget Estimates towards various subsidies provided to Tangedco, he said.
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