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  1. Govt raises solar power target five-fold to 1,00,000 mw by 2022

Govt raises solar power target five-fold to 1,00,000 mw by 2022

The cabinet on Wednesday revised the target for solar-capacity addition under the Jawaharlal Nehru National Solar Mission...

By: | New Delhi | Published: June 18, 2015 12:03 AM

The cabinet on Wednesday revised the target for solar-capacity addition under the Jawaharlal Nehru National Solar Mission (JNNSM) to 1,00,000 megawatt (mw) or 100 gigawatt (gw) by 2022, from 20,000 mw set earlier.

The target comprises 40 gw rooftop and 60 gw through grid connected projects. At present, the country has close to 4,000 mw of solar capacity in the grid connected category. “The total investment in setting up 100 gm will be around Rs 6,00,000 crore. In the first phase, the government will provide Rs 15,050 crore as capital subsidy capacity addition to promote solar power,” the official statement said.

The subsidy is meant for viability gap funding (VGF) for rooftop solar installations that have been lagging behind in comparison to progress made by large grid connected projects, primarily because of lack of clarity on the available government support. “This capital subsidy will be provided for rooftop solar projects in various cities and towns, for VGF-based projects to be developed through Solar Energy Corporation of India and for decentralised generation through small solar projects,” the statement said.

As reported by FE earlier, the government, in the new draft tariff policy, has made it mandatory for new thermal plants to install solar power plants amounting to 10% of the the thermal capacity. “Apart from this, solar power projects with investment of about Rs 90,000 crore will be developed using bundling mechanism with thermal power,” the government said, adding that further investment will come from large PSUs and independent producers.

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