Solar Energy

HIGHLIGHTS OF SOLAR ENERGY INITIATIVES

• Scheme for setting up 25 solar parks each with a capacity of 500 MW and above and Ultra Mega Solar Power Projects; to be set up during five years that is from 2014-15 to 2018-19 and will require Central Government financial support of Rs.4050 crore.

• Setting up over 300 MW of Grid-Connected and Off-Grid Solar PV Power Projects by Defence Establishments and Para Military Forces with Viability Gap Fund (VGF) under JNNSM; Provision of an amount of Rs.750 crore from the National Clean Energy Fund (NCEF) for the purpose.

• Scheme for setting up 1000 MW of Grid Connected Solar PV Power projects by CPSUs and GoI organisations under various Central / State Schemes / self-use / 3rd party sale / merchant sale with Viability Gap Funding under batch – V of Phase-II of JNNSM.

• Scheme for Development of Grid Connected Solar PV Power Plants on Canal Banks and Canal Tops ; to be implemented during the 12th Plan period at an estimated cost of Rs. 975 crore and with Central Financial Assistance (CFA) of Rs. 228 crore.

• Enhancement in MNRE’s Budget by 65.8% in Regular Budget, 2014-15.

• Restoration of Accelerated Depreciation (AD) Benefits to Wind Power Projects .

• Clean Energy Cess on coal increased from Rs 50 per tonne to Rs 100 per tonne so that adequate funds are available for financing Renewable Energy projects.
• Banks advised to encourage home loan/home improvement loan seekers to install roof top solar PVs

• Classification of Solar, Wind and Small Hydro Projects be out of Red Category to Green Category.

• Existing programme of Solar Pumps scaled up to solarize one lakh solar pumps.

• Setting up a JVC for undertaking the First Demonstration Offshore Wind Power Project in the country.

• Agence Francaise de Development (AFD) of France extended a Line of Credit (LoC) of Euro 100 million to Indian Renewable Energy Development Agency Ltd. (IREDA).

• IREDA and Japan International Co-operation Agency (JICA) signed an Agreement for availing another Line of Credit (LoC) of JPY 30 billion for 30 years .

• An MOU was signed for setting up a Joint Venture Company (JVC) to undertake first Demonstration Offshore Wind Power Project in the country along the Gujarat coast.