Indian Railways has targeted to reduce its dependence on fossil fuel by harnessing Renewable Energy sources. In order to achieve the target, set by Govt. of India (GoI) to achieve 500GW capacity by 2030, Indian Railways has also envisaged to source around 30 GW renewable power by 2030 across Zonal Railways (ZRs) and Production Units (PUs).
Several measures in the renewable energy sector such as :-
- Guidelines for Tariff Based Competitive Bidding Process for procurement of power from grid connected solar PV and wind power projects
- Solar-wind hybrid policy are intended to create investment opportunities in the sector
- Waiver of transmission charges and losses for renewable projects, these, coupled with historic lows in solar and wind tariffs have completely transformed business dynamics in the sector.