GREEN GRIDS INITIATIVE
What is in news : Union Minister for Power and New and Renewable Energy (MNRE), Government of India, addressed the Ministerial session of the Green Grids Initiative-One Sun One World One Grid Northwest Europe Cooperative Event.
- Parent Body: The Union Ministry of New and Renewable Energy (MNRE).
- Objective: Build global consensus about sharing solar resources among more than 140 countries of West Asia and South-East Asia.
- The vision is ‘The Sun Never Sets’ and is a constant at some geographical location, globally, at any given point of time.
- This grid shall be interconnected with the African power pools also at the later stage.
- Taken up under the technical assistance program of the World Bank.
Potential and benefits of the initiative:
- India would generate 40% of power from non-fossil fuels by 2030 and has called for connecting solar energy supply across borders giving the mantra of ‘One World One Sun One Grid’.
- The proposed integration would lead to reduced project costs, higher efficiencies and increased asset utilization for all the participating entities.
- This plan will require only incremental investment because it will not require a parallel grid infrastructure due to working with existing grids.
- It will help all the participating entities in attracting investments in renewable energy sources as well as utilizing skills, technology and finances.
- Resulting economic benefits would positively impact poverty alleviation and support in mitigating water, sanitation, food and other socio-economic challenges.
- It will allow national renewable energy management centers in India to grow as regional and global management centers.