Pumped storage policy to boost green energy investment in state
In comparison to other states, Bihar policy offers more investor-friendly incentives. Developers will be exempted from water cess during the initial reservoir filling. They will also receive concessions on intra-state power transmission charges. Moreover, no contribution will be required towards Local Area Development Fund, and the state will not demand any free royalty power from these projects, making Bihar one of the most attractive destinations for pumped storage investment in India.
Under the new policy, the govt will facilitate early identification and allocation of non-forest land for such projects. District administrations and BIADA have been instructed to expedite proposals for land allocation. A dedicated single-window clearance system is also being developed by energy department to streamline approvals and provide timely support to investors.
Private players will be encouraged to set up projects under Public-Private Partnership (PPP) mode.
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Deputy CM Samrat Choudhary said in the National Electricity Plan (NEP) 2022-32 of the Central Electricity Authority (CEA), energy storage is essential to incorporate the excess renewable energy into the grid. "Keeping in mind the resolution of net-zero carbon emission by 2070, the Bihar govt is committed to sustainable energy development," he said.
The policy will help balance the intermittency of renewable resources like solar and wind.
This is especially crucial for a growing economy like Bihar, where ensuring round-the-clock power supply through clean sources is key to inclusive development.
Energy minister Bijendra Prasad Yadav said this policy will further position Bihar as a frontrunner in India's green energy transition. "It will unlock new avenues for investment, innovation, and employment," he said.
Mahendra Kumar, the managing director of of Bihar State Power Generation Company Limited, termed the policy a game changer. "It will not only accelerate energy sector growth but also establish Bihar as a self-reliant and environmentally responsible state," he said.
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