Gujarat currently has renewable energy capacity of 27.8 GW
where it has 14.7 GW of solar capacity and eyes 31.9 GW of hybrid projects. Gujarat
is setting a new benchmark in the renewable energy sector with its
groundbreaking “Mission 100 GW,” which aims to expand the state’s renewable
energy capacity significantly. This initiative will help meet Gujarat’s growing
energy needs, reduce reliance on fossil fuels, lower carbon emissions, and
contribute to the global effort against climate change. This target will
contribute to advancements in solar, wind, and other renewable energy
technologies to meet rising energy demands sustainably and reduce carbon
emissions.
Gujarat is one of the leading states in RE sector in the
country due to its land allotment policies, connectivity on demand, and
off-ticker guarantees to facilitate renewable energy projects. The state enjoys
favorable geographical conditions as it has high solar irradiance which makes
it a good location for solar energy projects and extensive coastline along with
strong winds helps it harness wind power. To promote RE, government also
launched Integrated Renewable Energy Policy of 2023 to provide a stable and
predictable framework for investors as it also covers offshore wind and
emerging technologies.
Due to progressive policies filled with incentives, an
investor-friendly climate, effective governance, and strategic planning, the
state has various large-scale projects which makes it contribution of RE in
nation’s grid unparallel. The large-scale solar park projects that are deployed
in the state has helped to drive down the cost of solar tariffs across the
country and it has also helped in innovative and strategic use of barren land
which is set as a precedent for other states to follow. The state has shown
wide adoption of RE from solar panels adorning government buildings and
people's homes to vast solar parks which makes the state highly investor
friendly.
The investors in the state get benefitted by state utilities
like GUVNL which provide off-ticker guarantee, which helps them to ensure that
their projects are viable, and they get easy financing. The ambitious target
needs huge investment from players and due to favorable policies, it is
expected that the state will receive large investment to meet its RE goal in
the coming years. The state not only will be able to meet its peak power demand
but also supply electricity to energy deficient states in the future. Gujarat
is expected to be the leader in RE attracting opportunities for investors and
domestic manufacturers in RE value chain. The state’s target of 100 GW aligns
with the national goal of installed RE capacity of 500 GW till 2030 helping to
lower the carbon emissions and lower dependence on imported fuel.
