"Uttar Pradesh Receives Rs 2 lakh cr Investment Commitments in Solar Sector": Energy Minister

According to Sharma, UP has launched the 'Uttar Pradesh Solar Energy Policy 2022,' which aims to establish 22 gigatonnes (GW) of green energy projects in the state by 2027.

The minister was part of a delegation that visited New Delhi last week for a roadshow in preparation for the Global Investors Summit, which will be held in Lucknow from February 10 to 12.

"The policy is only two months old, and we have already received investment commitments in the solar and related sectors worth Rs 2 lakh crore," the minister said about RE investment targets.

Rooftop solar projects, as well as ground-mounted projects in agricultural fields, will be the growth drivers of the state's green energy demand, he said.

The government intends to establish utility scale projects, ultra-mega solar parks, distributed solar systems, and the development of model solar cities, among other things.

He urged investors to invest in the state, citing the policy's various subsidies and incentives for solar energy generation and storage. According to Sharma, the state has also launched a Bio Energy Policy 2022 to assist the country in meeting its net-zero goals.

He explained that the policy aims to establish compressed bio gas plants, bio-coal, and bio-diesel/bio-ethanol plants using various wastes such as Agri waste, waste from sugar mills, and municipal waste, among others.

Furthermore, under this policy, investors will receive benefits such as exemption from stamp duty for land acquisition for such projects, exemption from electricity duty for a period of ten years, and so on.

There are numerous business opportunities in the state's clean energy sector, and investors should take advantage of these opportunities to maximize their returns. The demand for clean energy is increasing in the state as a result of various government initiatives and programmes.