Gujarat based KP Energy Ltd has shared with the stock exchange that it will add over 1,231 MW within next two years to the existing 205.8 MW. The rapid ramping up of capacity comes soon after a slew of measures, impacting the regulatory framework, announced by the government in its bid to meet the target of 60 GW of wind energy by 2022.
The government has recently switched over to auction driven tariff regime from erstwhile regulator decided feed-in tariffs. To achieve its target of producing 60 GW of wind energy by 2022, it has initiated separate bids under Central Transmission Utility (CTU) network. It has also waived off ISTS (Inter State Transmission System) charges which will help to set up projects in any windy state and sale of power to any far-off state within country without paying any transmission costs.
The industry has also been given a major boost through the 6,000 MW auction by Solar Energy Corporation of India (SECI) which has brought in all non-windy states on the bee line to purchase power at a very economical rate from SECI. It has also drawn interest of large corporate houses, foreign banks, utilities, institutions, fIIs and corporate bodies to invest in the sector leading to benefits on long term, less risk propositions.