In Short : Experts anticipate a series of measures for clean energy, aiming to boost renewable energy adoption, enhance sustainability, and reduce carbon emissions. These initiatives are expected to drive significant progress in the transition to greener, more sustainable energy sources.
In Detail : The government is expected to announce a slew of measures in the full Budget for fiscal year 2024-25 to promote investments in the renewable energy space, experts say.
Their expectation is that the government may announce policy-related measures, viability gap funding (VGF) and incentive schemes for the clean energy industry, the experts said.
“We expect the focus of the budget to remain green growth based… We expect the budget to focus more on renewables, storage, transmission and distribution network strengthening schemes.
“We expect policy measures to incentivise, and to encourage investments in (battery) storage groups,” Girishkumar Kadam, Senior Vice President & Group Head – Corporate Ratings, ICRA Ltd said.
There is a slow progress being witnessed in pumped storage projects (PSP) space. Some policy bridges need to be announced to expedite the implementation of these projects as these are going to be very systemically important assets for India as far as energy transition is concerned, he said.
