BIDDING ON CARDS FOR 7,500 MW OF SOLAR POWER PROJECTS IN LADAKH & LEH: POPLI AT PHD CHAMBER

No.PR-152

February 7, 2019

New Delhi

BIDDING ON CARDS FOR 7,500 MW OF SOLAR POWER PROJECTS IN LADAKH & LEH: POPLI AT PHD CHAMBER

The government is likely to roll out bids to set up solar power projects to tune of around 7,500 mw in Ladakh and Leh region with contentious issues getting nearly resolved at various levels, indicated Chairman & Managing Director, India Renewable Energy Development Agency (IREDA), Mr K S Popli.

Addressing a Conference on “Renewable Energy – Challenges and Way Forward” under aegis of PHD Chamber of Commerce and Industry here today, Mr Popli also announced that IREDA’s total loan disbursal would reach around Rs.9,500 crore by end of current fiscal keeping in view the focus of the government for harnessing the potential of non-renewable, largely solar and the enthusiasm that follow for commissioning of such projects.

“We at IREDA are of the view that the loan disbursal for the non-renewable projects and particularly solar plants will witness a hike of 30% by the end of next fiscal which could be estimated at around Rs.12350 crore”, said Mr Popli adding that IREDA would source the disbursal funds from various multilateral agencies including domestic financial institutions at relaxed rates.

Another important milestone that the Agency would be embarking on is to aggressively fund for “solarisation of diesel agri pumps” across the country with multiple socio economic objectives.

According to him, there are roughly 3 crores of diesel pumps currently in operation for agriculture purposes of which 27 lakh pumps are required to be initially solarised and the IREDA would undertake the task of funding such conversion without disclosing any timeframe for it.

Elaborating on the bid process for 7,500 mw of solar power projects in Ladakh and Leh region, Mr Popli indicated that the Ministry of New & Renewable Energy (MNRE) would finalize the bidding process for these power plants with or without subsidy as more clarity has emerged on such power projects.

Speaking on the occasion, Project Coordination, (BMDP), Scientist G, National Institute of Ocean Technology, Dr Purnima Jalihal, however, emphasized that preparations should be intensified to harness the potential of blue economy not only for power generation but also other multiple applications such as providing for cleaner water even for drinking purpose.

In his welcome remarks, Vice President, PHD Chamber, Mr. Sanjay Aggarwal proposed that the IREDA and NIOT should join hands with the PHD Chamber to conduct policy advocacy role so that the ocean potential could be harnessed for multiple economic gains, given the advantages of the coast line that India is blessed with.

Among others who were also present on the occasion comprised; Chairman & Co-Chairman, Renewable & Alternate Energy Committee, PHD Chamber, Mr Sanjeev Gupta and Dr J P Gupta along with its Principal Director, Dr. Ranjeet Mehta.

Ends.

Koteshwar Prasad Dobhal

Consultant (PR)