Up to INR 50 billion in green investments desired in UP
POWER & RENEWABLE ENERGY

Up to INR 50 billion in green investments desired in UP

The Uttar Pradesh (UP) government wants to entice private investments up to INR 50 billion in the solar and bio-energy industries, riding the wave of the worldwide transition to green energy. Over the next five years, the state wants to produce 22,000 megawatts (MW) of solar energy. 6,000 MW would come from rooftop solar power plants and 14,000 MW would come from solar parks. In accordance with the center, the government is also developing a green hydrogen policy. In this decade, the Asia-Pacific area is anticipated to experience the fastest growth worldwide.

AK Sharma, the state's energy minister, has given the go-ahead for officials to hasten the policy's formulation in order for the Cabinet to approve it more quickly. “The state's transition to a trillion- dollar economy will be significantly aided by the new and expanded energy industry. Work should be done to create industry-specific employment opportunities”, he said.

India's green hydrogen strategy provides 25 years of free interstate power transmission and cheaper renewable energy for projects that are completed before June 2025. Land at lower prices in energy parks and zones designated for nearby enterprises are among the incentives. By employing renewable energy to electrolyze water, green hydrogen can be created. Later, hydrogen and nitrogen can be mixed to create "green" ammonia, removing the need for planet-warming hydrocarbons. Green ammonia is used to produce fertilisers and store energy.

The global market for green hydrogen, which was anticipated to be worth USD 1.83 billion in 2021, is expected to reach approximately USD 90 billion by 2030, growing at a CAGR of 54% between 2021 and 2030, according to studies.

India's green hydrogen goal, which was unveiled in 2021, calls for a quick increase in production to turn the nation into a centre for green hydrogen. Anupam Shukla, Director, UP New and Renewable Energy Development Agency, reported that the state has already received investment bids of INR 185 billion in the industry. The state now intends to make proactive contact with both domestic and foreign firms in the sector. To entice private enterprises, the energy department will organise an investment meeting in January 2023.

The Uttar Pradesh (UP) government wants to entice private investments up to INR 50 billion in the solar and bio-energy industries, riding the wave of the worldwide transition to green energy. Over the next five years, the state wants to produce 22,000 megawatts (MW) of solar energy. 6,000 MW would come from rooftop solar power plants and 14,000 MW would come from solar parks. In accordance with the center, the government is also developing a green hydrogen policy. In this decade, the Asia-Pacific area is anticipated to experience the fastest growth worldwide. AK Sharma, the state's energy minister, has given the go-ahead for officials to hasten the policy's formulation in order for the Cabinet to approve it more quickly. “The state's transition to a trillion- dollar economy will be significantly aided by the new and expanded energy industry. Work should be done to create industry-specific employment opportunities”, he said. India's green hydrogen strategy provides 25 years of free interstate power transmission and cheaper renewable energy for projects that are completed before June 2025. Land at lower prices in energy parks and zones designated for nearby enterprises are among the incentives. By employing renewable energy to electrolyze water, green hydrogen can be created. Later, hydrogen and nitrogen can be mixed to create green ammonia, removing the need for planet-warming hydrocarbons. Green ammonia is used to produce fertilisers and store energy. The global market for green hydrogen, which was anticipated to be worth USD 1.83 billion in 2021, is expected to reach approximately USD 90 billion by 2030, growing at a CAGR of 54% between 2021 and 2030, according to studies. India's green hydrogen goal, which was unveiled in 2021, calls for a quick increase in production to turn the nation into a centre for green hydrogen. Anupam Shukla, Director, UP New and Renewable Energy Development Agency, reported that the state has already received investment bids of INR 185 billion in the industry. The state now intends to make proactive contact with both domestic and foreign firms in the sector. To entice private enterprises, the energy department will organise an investment meeting in January 2023.

Next Story
Technology

AirBrick Infra Sets Rs 1 billion Target, Expands to Dubai and Tier-II Cities

AirBrick Infra, one of India’s fastest-growing AI-led commercial interior design and build firms, has announced a sales order target of Rs 1 billion for FY 2025–26. The projection represents a 50 per cent growth over the previous fiscal year and reflects rising demand, increased repeat business, and the company's robust tech-first delivery model.  Now in its third year of operations, AirBrick continues its rapid scale-up, having successfully delivered over 70 projects spanning 3 lakh sq ft in FY 2023–24. FY 2024–25 witnessed the onboarding of several Fortune 500 clients, sett..

Next Story
Resources

Virtusa Foundation Powers Green Education Drive in Bengaluru

The Virtusa Foundation, CSR arm of digital engineering and technology leader Virtusa Corporation, has announced key infrastructure and mobility initiatives at the Ramakrishna Mission, Shivanahalli, Bengaluru. The launch marks the inauguration of a 16-room residential facility for lady teachers and the deployment of two solar-powered electric buses, underscoring Virtusa’s commitment to its core pillars of Education, Environment and Empowerment (3Es).  Located on the forest fringe near Bannerghatta National Park, the initiative supports tribal and underserved communities, complementi..

Next Story
Infrastructure Urban

Godrej Enterprises Drives India’s Smart Green Logistics Shift

As India accelerates its transformation into a global manufacturing and logistics hub, Godrej Enterprises Group (GEG) is taking the lead with its smart, sustainable intralogistics solutions. Through its Material Handling Equipment (MHE) and Storage Solutions businesses, GEG is redefining operational efficiency in modern warehouses and factories using IoT, automation, and AI. GEG has consistently maintained a 20–25 per cent market share in the intralogistics sector over the past three years. Today, over 37 per cent of GEG’s revenues come from its Good & Green portfolio, and its net..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?