The new Hybrid policy announced by GERC on April 21 gives a significant opportunity for Industries to reduce their power cost. This 'Wind-Solar Hybrid Power Policy' will remain in force for five years. The new GERC policy allows for new installation in addition to existing wind/solar capacity up to the sanctioned load.
A hybrid project for captive/third-party sale is an excellent option for first time renewable investment and also helps in lowering electricity costs.
Key highlights of Gujarat Wind-Solar Hybrid Policy
- Capital Subsidy up to INR 35 lakhs and interest subsidy up to 7% of interest levied on the term loan is available for eligible MSMEs under Gujarat Industrial Policy 2020.
- Any industrial unit or power consumer in Gujarat can invest in a new wind-solar hybrid project. The policy allows those consumers who have already installed wind & solar projects under the current wind/solar policy to add additional hybrid capacity.
- The Capacity of the Hybrid project shall be 100% of the contract demand [50% of the sanctioned load of the consumer for each solar and wind, respectively]. The eligibility of hybrid projects shall be governed by the ratio of individual RE capacity (solar and wind) and not based on procurement of power by the consumer. However, Consumers may set up Hybrid projects to the extent of meeting RPO without limit of Contracted Demand/Sanctioned Load.
- Transmission charges, transmission losses, and wheeling charges/losses as per any other RE project proponent.
- Both wind & solar projects will be connected to the same pooling sub-station.