GUIDELINES ON CARDS FOR POWER PRODUCERS TO GENERATE 10% OF SOLAR POWER OUT OF THEIR TOTAL INSTALLED CAPACITY FOR SMART CITIES

GUIDELINES ON CARDS FOR POWER PRODUCERS TO GENERATE 10% OF SOLAR POWER OUT OF THEIR TOTAL INSTALLED CAPACITY FOR SMART CITIES

GUIDELINES ON CARDS FOR POWER PRODUCERS TO GENERATE 10% OF SOLAR POWER OUT OF THEIR TOTAL INSTALLED CAPACITY FOR SMART CITIES

 

No.PR-177
January 15, 2015
New Delhi
 

GUIDELINES ON CARDS FOR POWER PRODUCERS TO GENERATE 10% OF SOLAR POWER OUT OF THEIR TOTAL INSTALLED CAPACITY FOR SMART CITIES
 

CONSENSUS EVOLVED WITHIN THE GOVT. TO BRING RENEWABLE FINANCING UNDER PRIORITY SECTOR: UPENDRA TRIPATHY
 

The Ministry of new and Renewable Energy has swung into action to evolve guidelines as per which all power producers in private and public sector would have to generate 10 per cent of solar power of their total installed capacities to lighten the smart cities following directives from the highest of the polity, discloses Secretary, Ministry of New and Renewable Energy Mr. Upendra Tripathy.
 

He also informed that the ministry has taken on board the relevant government departments and Chief Executive Officers of all commercial banks to make sure that funding for new and renewable energy especially that of solar power is brought under priority sector landing.
 

In addition, the Secretary further disclosed that all concerned senior functionaries of the government of the day have entered into protracted dialogue with multilateral agencies to contain the hedging cost of finance for new and renewable projects, particularly solar fed so that the general cost of landing to this sector stays within the interest rate regime of between 7-8 per cent.
 

Inaugurating a national Conference on “Renewable Energy Potential in India-Clear Roadmap to Attract Investments” under aegis of PHD Chamber of Commerce and Industry here today, Mr. Tripathy said, “the government of the day 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 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 landing.   A roadmap to this effect could be seen in the budget proposals of the government for fiscal 2015-16”, said Mr. Tripathy.
 

“The Ministry has already walked extra miles to persuade railways, defence and host of other such departments including airports to make use of their infrastructure for installing solar panels and produce solar power for their use.   The railways and defence have activated themselves as the former has already announced to produce solar power to an extent of 500 mw in next 2-3 years.   However, airports have lagged behind on it as these have been asking for subsidized solar panels, which the ministry has refused pointblank because it is discouraging subsidy culture and insisting on low cost finance for promotion of renewable not only through domestic financial institutions but also with multilateral agencies such as World Bank, ADB and like”, concluded Mr. Tripathy.
 

Chairman, Renewable Energy Committee PHD Chamber Dr. Harish Ahuja and one of its Managing Committee Members Mr. Sanjeev Gupta was also present in the seminar.  There was also representation from the World Bank and host of other agencies in it.
 

ENDS

Koteshwar Prasad Dobhal
Consultant (PR)