India’s Ministry of Electricity has published draft guidelines to support reduced climate finance and the use of exhausted coal mines as sites for pumped storage projects.
India’s Ministry of Power has prepared draft guidelines to promote the development of Pumped Storage Projects (PSP) across the country.
India plans to reduce the emission intensity of its gross domestic product by 45 percent by 2030 in order to achieve zero carbon dioxide emissions by 2070.
As the integration of wind and solar power into the grid increases, payment service providers are extremely important in balancing greater inertia and power into the grid. They can store a large amount of energy and provide regular starts/stops and faster ups/downs.
The National Electricity Board’s draft National Electricity Plan (NEP) shows that 18.8 GW of PSPs and 51.5 GW of Battery Energy Storage Systems (BESS) are needed to integrate the planned increase in renewable energy capacity up to 2032. PSP’s capacity requirement may increase even more if the costs of BESS do not decrease as expected.
The PSP guidelines cover allocation of project sites, fees paid by developers, monetization of ancillary services, use of depleted mines to develop payment services, environmental assessments of off-river payment service providers and green financing.
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