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Clean Energy
Karnataka is a leading state in India for renewable energy, with an installed capacity of 15,523 MW. The state was the first in southern India to implement a solar policy that promoted diverse renewable energy projects. In 1902, it established the first major hydro-electric generating station at Shivasamudram as early as 1902 for commercial operation. Karnataka has solar PV potential of about 25 GW, 8 GW of pumped storage hydropower and 14 GW of wind energy.
1st
in the production of solar energy in India
63%
of state’s installed power capacity in renewable sources
400+
renewable energy ecosystem companies are present in Karnataka
2nd
largest Solar Park (2,000 MW) in the world located in Pavagada, Tumakuru
Sector Incentives and Policy
Renewable Energy Policy 2022-27
All RE projects of both Intra-State Transmission System and Inter-State Transmission System shall be eligible for incentives as per the State Industrial Policy and its amendments issued from time to time, except the investment promotion subsidies.
| Particulars | Incentives |
|---|---|
| Investment promotion subsidy | Upto 2.25% of annual turnover for 6-10 years upto 40-60% Value of Fixed Assets |
| Land Conversion Fee | 100% reimbursement |
| Stamp Duty | 100% reimbursement |
| Concessional Registration Charges | 0.1% |
| Effluent Treatment Plants | 50% subsidy upto Rs. 250 L |
| Anchor Industries1 | INR 7-10 Cr subsidy |
Initiatives and Growth Drivers
Market Potential
The state has largest market for solar power: Potential of ~3.6 Giga Watts in open access mode.
Innovation
Continuous Innovation is being carried out by existing ESCOMS – 5 ESCOMs converted to smart grid.
Growing EV charging infrastructure
Robust charging stations network is planned across Karnataka.
Energy Target
India has set an enhanced target at the COP26 of 500 GW of non-fossil fuel-based energy by 2030.
Solar Energy Capacity
India saw the highest y-o-y growth in renewable energy additions of 9.83% in 2022. The installed solar energy capacity has increased by 30 times in the last 9 years and stands at 90.76 GW.
Renewable Energy Capacity
India aims to produce 5 Mn Tonnes of green hydrogen by 2030. This will be supported by 125 GW of renewable energy capacity.
Electricity Act
Up to 100% FDI is allowed under the automatic route for renewable energy generation and distribution projects subject to provisions of The Electricity Act 2003.
Sector Champions
Mr. Sumant Sinha
Chairman and Managing Director
ReNew Power
ReNew Power, India’s largest renewable energy IPP in terms of commissioned capacity, was founded by Sumant Sinha, a leading first generation entrepreneur in January 2011. ReNew Power develops, builds, owns and operates utility scale wind and solar energy projects as well as distributed solar energy projects that generate energy for commercial and industrial customers. ReNew operates more than 100 utility scale projects spread across 8 states in India and has generated over 85,000 jobs, directly and indirectly. Under Sumant, ReNew has grown exponentially, and has a current renewable asset base of nearly 10 GW, including projects under development and in the pipeline. In 2019-20 ReNew Power contributed nearly 1% of the total electricity generated in India and helped mitigate 0.5% of the carbon emitted during this time. ReNew Power has 830 MW Solar projects and 651.8 MW Wind projects in Karnataka.
Salil Gupte
President
Boeing India
[email protected]
Boeing has been a strong partner of India’s aerospace sector for almost eight decades, both as the mainstay of India’s commercial aviation sector as well as an important partner in the mission readiness and modernization of India’s defense forces. Headquartered in Delhi, Boeing’s India operations include field service offices in Mumbai, Hindan, Rajali and New Delhi, and a rapidly growing Boeing India Engineering & Technology Center (BIETC) in Bengaluru and Chennai. The upcoming Boeing engineering and technology campus in Bengaluru, Karnataka will conduct core engineering and research for Boeing’s iconic products as well as future platforms. The campus will be one of the largest for Boeing, outside of the US.
Sector Contact
Email: [email protected]
Phone: 9845774793
