DVC to invest Rs 20,000 cr in solar energy projects by 2030 – EQ
In Short : DVC plans to invest ₹20,000 crore in solar energy projects by 2030. This significant investment aims to expand solar capacity, enhance renewable energy production, and support India’s transition to a cleaner energy mix.
In Detail : Kolkata : Damodar Valley Corporation (DVC) on Friday announced that it has planned to invest Rs 20,000 crore by 2030 to install nearly 4,000 MW of solar capacity, a top official said.
The corporation, created for flood control and development in the Damodar Valley, envisions investment worth Rs 50,000-60,000 crore by 2030 to enhance thermal, pump storage power plants and solar energy, he said.
It aims at adding nearly 10,000 MW in thermal and green energy, which will bring its total installed capacity to about 16,700 MW.
Of the current 6,700 MW installed capacity of DVC, 6,540 MW is thermal.
“Power demand is growing strong in the north, south, and western parts of the country. We are expanding sustainably with the right mix of thermal and renewable energy, which will keep power costs affordable. We will add 3,720 MW in thermal capacity and nearly 4,000 MW in solar by 2030,” DVC Chairman S. Suresh Kumar said during an interaction on the occasion of the 77th Foundation Day of the corporation.
The Kolkata-headquartered corporation now has only 14 MW installed solar capacity and is executing a 348 MW project in association with NTPC.
A 250MW/hour capacity of battery storage is also under consideration, he said.
Kumar mentioned that DVC has been exempted from coal import due to its power plants’ proximity to the pithead.
Recently, the Union Power Ministry has extended a coal import advisory to domestic thermal plants for 4 per cent blending till October 15 to ensure adequate fuel supply during the monsoon season.
DVC also plans to ramp up its captive coal mining from its Tubed block in Jharkhand with a separate railway siding for smoother evacuation.
“With the dedicated railway siding for loading, we will be able to ramp up production to six million tonnes. We have proposed to the Railways that we would set up the facility at our cost. Due to current evacuation bottlenecks, our output is below two million tonnes. Captive coal is already cheaper, and if Coal India revises the price further, our coal becomes extremely affordable,” Kumar said.
The maximum annual production can reach up to nine million tonnes, he said.
“The current coal requirement of DVC is 28-30 million tonnes,” Kumar added.
The rest of the coal demand is met from the supplies by Coal India subsidiaries.
The corporation is unable to bid for a new coal block due to legal hurdles regarding a legacy case, involving a past joint venture with Bengal Emta Coal Mines, the official said.
Kumar, who was the former West Bengal power secretary, stated that apart from the 4,000 MW solar power, the corporation plans to install two pump storage facilities in Logu Pahar in Jharkhand (1500 MW) and Panchet in West Bengal (1000 MW).
The Panchet project is proposed to be a JV with the West Bengal government.
Speaking about dues from Jharkhand, the DVC official said the old dues have come down to about Rs 1,000 crore, and the state is clearing the same.
