Modi government will prepare guidelines for all power producers in private and public sectors with an objective to generate 10 per cent of solar power of their total installed capacities to lighten the smart cities. A consensus has already been evolved among stakeholders within the Government to bring lending for new and renewable energy projects especially those of solar power under priority sector.
Addressing National Conference on Renewable Energy Potential in India organized by PHDCCI, Mr. Upendra Tripathy, Secretary, Ministry of New and Renewable Energy said that Prime Minister Mr. Narendra Modi has already taken a lead on the subject and following the advice of the highest polity, the Ministry is preparing the guidelines within which the power producers would have to accomplish the job.
“Several rounds of discussions have taken place within the concerned functionaries in the government as well as chief of banks and consensus has evolved to bring new and renewable energy financing under priority sector lending. A roadmap to this effect could be seen in the budget proposals of the government for fiscal 2015-16”, said Mr. Tripathy.
He said, “the government would ask power generators in public and private sector to begin to prepare generate solar energy to an extent of 10 per cent of their installed capacity to feed power for smart cities to promote twin objectives of providing power at low cost as also generate awakening for clean energy”.
“The Ministry is discouraging subsidy culture and insisting on low cost finance for promotion of renewable energy not only through domestic financial institutions but also with multilateral agencies such as World Bank, ADB and like”, remarked Mr. Tripathy.
Chairman, Renewable Energy Committee PHD Chamber Dr. Harish Ahuja, Member Mr. Sanjeev Gupta and representatives from the World Bank and host of other agencies participated.