Press Release

Continuity of Policies Key for Hydropower Growth, says Former Chief Engineer Shri Jaideep Bawa at Annual Conference 2023 Hydropower & Pumped Storage

Continuity of policies is crucial for sustained growth. We need to have policies that provide consistent support to identified projects

New Delhi, 29th August 2023: “Continuity of policies is crucial for sustained growth. We need to have policies that provide consistent support to identified projects. Once a project is identified, proper support is essential for its successful implementation,” stated, Shri Jaideep Bawa, Former Chief Engineer (Hydro Planning & Investigation), Central Electricity Authority (CEA), at the Annual Conference 2023 Hydropower & Pumped Storage - Critical for Grid Resilience organised by the Associated Chambers of Commerce and Industry of India (ASSOCHAM). 

Shri Jaideep Bawa, a key speaker at session related to 'Industry Interaction with Pumped Storage Hydro States,' delved into various aspects of policy challenges and opportunities within the sector. He further underscored the significance of policy stability in driving the hydropower industry forward. He noted, "When we talk about interaction with the industry, they need to point out their issues in the construction of the project. It's not just about criticism; constructive suggestions are valuable for the creation of a conducive environment for project development." 

Commenting on the evolving energy landscape, Shri Jaideep Bawa brought attention to the role of pumped storage hydro projects (PSPs) in ensuring grid stability. He stated, "PSPs naturally come in handy when we talk about gigawatts of power. While batteries have their place, the scale of PSPs is particularly suited for ensuring grid resilience." 

Shri Jaideep Bawa also expressed optimism about India's growing lithium reserves and their potential contribution to the energy sector. He remarked, "India has recently made strides in lithium availability, which is crucial for the future of energy projects. Adequate lithium reserves can significantly support our energy demands." 

Shri Amresh Kumar, Managing Director, Odisha Hydro Power Corporation Ltd, remarked, "The government of Odisha is making remarkable progress in the realm of renewable energy. Presently, the state boasts a contracted capacity of 8,050 megawatts, with the state hydro sector contributing 46% to the overall renewable energy capacity, which aggregates to 8,807 megawatts. However, a challenge persists for Odisha, as only 1% of its power plants currently harness renewable energy sources. This underscores the necessity for policy reforms in this sphere." 

Shri. Kumar highlighted Odisha's initiative in tackling this issue. He said, "By the fiscal year 2029–30, the state has set an aggressive goal of having a 53.33% reliance on renewable energy. In order to achieve this goal, Odisha has already acquired 575 and 352 megawatts from outside states, expanding its supply of renewable energy. To overcome obstacles relating to renewable energy projects and their successful implementation, collaboration activities and consultations with other states are under place. 

Furthermore, Shri. Kumar conveyed that despite these challenges, Odisha presents a multitude of opportunities for industries, with an annual growth rate of 8%. He articulated, "The demand for industrial energy in Odisha is growing by 6% annually, underscoring the imperative of transitioning towards renewable energy sources. The state envisions achieving a total capacity of 21.7 gigawatts by 2030, comprising 5.7 gigawatts from renewable energy purchase obligations and 16 gigawatts from captive sources. Odisha has introduced its distinct policy, the Odisha Renewable Energy Policy 2022, which offers incentives and avenues for potential investors interested in Odisha's renewable energy ventures." 

Shri S. Ramana Reddy, IRPS, Vice Chairman & Managing Director, New & Renewable Energy Development Corporation of Andhra Pradesh briefed about AP policy to promote Hydro and PSP.