Published On:July 6 2024
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DVC to Invest ₹20,000 Crore to Boost Solar Capacity to 4,000 MW by 2030.

DVC to Invest ₹20,000 Crore to Boost Solar Capacity to 4,000 MW by 2030.

State-run power utility Damodar Valley Corporation (DVC), which operates in West Bengal and Jharkhand, plans to increase its solar power capacity to around 4,000 MW by 2030, with a capital expenditure of approximately ₹20,000 crore.

Currently, DVC, jointly owned by West Bengal, Jharkhand, and the Centre, has an installed solar power capacity of around 14 MW and an installed thermal power capacity of 6,540 MW.

“Within one year, our installed solar power capacity is expected to increase to 350 MW, with the majority of it coming in Jharkhand,” DVC Chairman S. Suresh Kumar told mediapersons on Friday.

Headquartered in Kolkata, DVC currently has a total installed capacity of around 6,700 MW. The company plans a total capital expenditure of around ₹50,000-₹60,000 crore by 2030 to add nearly 10,000 MW of capacity.

“Power demand is growing strongly in the North, South, and Western parts of the country. We are expanding sustainably with the right mix of thermal and renewable power, which will also keep power costs affordable,” Kumar said during the 77th Foundation Day celebrations.

In the thermal sector, DVC will add around 3,720 MW of installed capacity by 2030.

Kumar also mentioned that DVC has approached the Union Power Ministry to implement a uniform power tariff for its consumers in West Bengal and Jharkhand. The company's command area spans both states, with its main functions being the generation, transmission, and distribution of electricity. Currently, the respective electricity regulatory commissions of the two states decide on end-consumer power tariffs.

“We have already taken up the matter with the Ministry of Power. The matter is now being examined by them,” Kumar said.

Currently, the average power tariffs for DVC’s end-consumers in West Bengal and Jharkhand are ₹4.42 and ₹5.58 per unit, respectively.

HBL





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