Solar park capacity to be doubled

Source: The Economic Times, Feb 23, 2017

NEW DELHI: The government has approved doubling of the capacity of the scheme for development of solar parks and ultra mega solar power projects to 40,000 mw, Union minister Piyush Goyal said on Wednesday.

The decision taken by the Cabinet Committee on Economic Affairs (CCEA) will require setting up of at least 50 solar parks with a capacity of at least 500 mw each in various parts of the country.

Smaller parks in Himalayan and other hilly states, where contiguous land may be difficult to acquire in view of the difficult terrain, will also be considered under the scheme, said Goyal, the minister for power, coal, renewable energy and mines. The capacity of the solar park scheme has been doubled from 20,000 mw after considering the demand for additional solar parks from the states. The solar parks and ultra mega solar power projects will be set up by 2019-20 with financial support of Rs 8,100 crore from the Centre. Production of 64 billion units of electricity per year under the scheme will lead to abatement of about 55 million tonnes of carbon every year.

Goyal said the scheme will also contribute to long-term energy security of the country and promote ecologically sustainable growth by reducing carbon emissions and carbon footprint, along with generating large direct and indirect employment opportunities in solar and allied industries such as glass, metals and heavy industrial equipment.

The renewable energy ministrywill sanction financial assistance of up to Rs 20 lakh per megawatt or 30% of the project cost, whichever is lower. Solar Energy Corporation India will administer the scheme.

SJVN investment
CCEA also approved investment of Rs 5,723.72 crore by state-owned SJVN Limited in the 900 mw Arun-III hydropower project in Nepal. Financial closure for the project is expected to be achieved by September and it is scheduled to be completed in five years. SJVN bagged the project through international competitive bidding and a memorandum of understanding was signed between Nepal and the company in March 2008 for execution on build-own-operate-transfer basis for 30 years.

 

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