Telangana Aims To Attract $4-Billion Investment In E-Mobility Sector By 2030
Telangana is planning to attract $4 billion investments in the state and create employment for 120,000 persons by 2030 through electric vehicles (EVs) in shared mobility, charging infrastructure and manufacturing activities, it said in its EV policy released.
It added that the state also aims to shift from imported fossil fuels to domestically produced renewable energy to become a hub for EVs and energy storage systems.
Regarding EV charging infrastructure, the policy framework said that the state’s nodal agency, Telangana New and Renewable Energy Development Corporation, in coordination with state discoms would ensure supply of renewable energy for charging stations and setting up of solar rooftop plants as per the net-metering policy.
The initial batch of fast charging stations would be set up in Hyderabad and other towns in a phased manner by state entities and private players. It added that the Telangana State Electricity Regulatory Commission (TSERC) would provide a special power tariff category for EV charging stations.
“Captive power plants would be encouraged under the TSERC guidelines,” according to The Telangana Electric Vehicle and Energy Storage Policy 2020-2030, which would be applicable for a period of 10 years.
The policy intends to achieve substantial reduction in total cost of transportation for personal and commercial purposes in the state and builds upon the FAME-II scheme being implemented by the Centre to promote adoption and manufacturing of EVs in the country.
The framework also aims to generate demand for battery storage solutions by providing EV adoption incentives and supply side incentives for battery manufacturing.
It added that the state would support creation of EV charging infrastructure in the initial phase and eventually create a market for commercially viable EV charging business and promote recycling and cascading of batteries.