The Andhra Pradesh (AP) government is reportedly planning to launch a new export policy in a bid to promote renewable energy projects.
According to ET the new export policy will allow the state to export power without obligation to discoms.
The publication in a report notes that the government has proposed to construct 29 pumped hydro storage projects (PSP) with a capacity of 33,240 MW both on-river and off-river sites to convert renewable energy sources into round-the-clock power and attract investments.
29 locations in various districts for the projects has been identified by the New and Renewable Energy Development Corporation (NREDCAP). A feasibility report has also been prepared by NREDCAP states that the estimated potential for PSP projects is 33,240 MW with investment of Rs 5 crore per MW.
A draft policy document has been prepared in which it was proposed that some of the projects be taken up by the government and others by private developers.
AP is the first state to announce an export policy to meet the country’s renewable energy target, officials said.