GBC@IV to position UP as hub of renewable energy

  • | Monday | 19th February, 2024

Uttar Pradesh is set to witness the fourth groundbreaking ceremony (GBCIV) for the largest investment in the history of the state so far on Monday, marking a significant step towards making the state an entrepreneurial hub. Moreover, the event will also see the launch of as many as 182 projects worth Rs 1.3 lakh crore related to renewable energy under Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA) to develop the state as a hub of renewable energy. The Yogi Adityanath government seeks to implement investment proposals totaling around Rs 40 lakh crore, which were received during the Global Investors Summit in 2023 from various industrial groups, both national and international, during the GBCIV. In the first phase of GBCIV, the bhoomi pujan of more than 14,000 projects worth Rs 10 lakh crore will take place in the presence of Prime Minister Narendra Modi and Chief Minister Yogi Adityanath. An important highlight of the event will be the launch of projects related to renewable energy, amounting to more than Rs 15,000 crore in Bundelkhand, which will establish the region as the new Urjanchal. According to UPNEDA Director Anupam Shukla, the GBCIV includes 182 projects related to solar energy, bioenergy, pumped storage projects (related to hydropower), and green hydrogen. These will bring about significant changes in the energy sector in Uttar Pradesh. He said that the department had received a target of Rs 1.25 lakh crore for GBCIV, against which it had achieved projects worth Rs 1.30 lakh crore, standing at 104 per cent. In the solar energy sector, 42 projects are set to be implemented with an investment of Rs 55,806 crore, while in the bioenergy sector, 131 projects will be launched with investment worth Rs 7,299.35 crore. Additionally, for pumped storage projects related to hydropower, eight companies will be collectively investing Rs 66,955 crore. Moreover, a green hydrogen project will also be implemented in the state with an investment of Rs 150 crore by the company. The major renewable energy projects to be launched in Bundelkhand include, a project worth Rs 6,000 crore by NHPC in Jalaun, Rs 4,000 crore solar energy and hydro project in Chitrakoot and a Rs 5,000-crore project in Lalitpur. These projects, totaling Rs 15,000 crore, are aimed at transforming the Bundelkhand region, considered a backward region, into a hub of renewable energy. Additionally, in Mathura, the Adani Group is investing Rs 300 crore in a biogas project. Furthermore, Neyveli Lignite Corporation is initiating solar projects worth Rs 3,500 crore in various parts of the state. With traditional energy sources being limited and their consumption posing a threat of environmental pollution, the state government is consistently working towards increasing the production of energy based on new and renewable sources. The result of the governments efforts is evident in the establishment of large-scale projects based on solar energy, biomass and small hydroelectric power. The state has been actively involved in grid-connected solar power generation and rooftop solar power generation. With the upcoming investment of Rs 1.30 lakh crore in this sector, Uttar Pradesh is not only set to become a hub of renewable energy, but will also generate employment opportunities on a large scale. 

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