Rajasthan government to launch RIPS to boost renewable energy investments
The Rajasthan government’s Rajasthan Investment Promotion Scheme (RIPS) incentivizes renewable energy projects by offering full subsidies on cross-subsidy and additional surcharges for green hydrogen production for seven years. The policy supports solar, wind, hybrid, and energy storage projects, including battery and biomass systems. Additional benefits include exemptions on transmission and wheeling charges for renewable energy-integrated storage projects, fostering the growth of renewable energy in the state with a strong solar and wind energy potential of 24.22 GW and 5.19 GW, respectively.
Reportedly, the Rajasthan government has released Rajasthan Investment Promotion Scheme (RIPS) to boost renewable energy investments and leverage its potential with 24.22 GW of solar energy and 5.19 GW of wind energy.
The scheme provides various incentives to enterprises investing in solar, wind, hybrid, and energy storage projects, such as battery energy storage systems and biomass. The scheme offers a 100 per cent subsidy on cross subsidy surcharge and additional surcharges for renewable energy used in green hydrogen production within the state for seven years. The policy also provides exemptions on transmission and wheeling charges for renewable energy integrated storage projects and standalone battery storage systems, encouraging green energy development.
Source Link : https://powerline.net.in/2024/10/28/rajasthan-government-to-launch-rips-to-boost-renewable-energy-investments/
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