The Hindu : Business : Sops for grid interactive solar plants

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Thursday, Jan 03, 2008
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Sops for grid interactive solar plants

Special Correspondent

NEW DELHI: Giving a major thrust to non-conventional sources of energy, the Ministry of New and Renewable Energy on Wednesday announced a new scheme for installation of megawatt capacity grid interactive solar power plants.

The scheme also comes with financial incentives to encourage private as well as other players in the power sector to take up to unconventional sources for power generation and adding to the targeted capacity during the XI Plan.

Addressing a press conference here, Minister of State for New and Renewable Energy, Vilas Muttemwar, said as part of its attempt to promote the whole concept, the Ministry had decided to provide financial assistance amounting to Rs. 12 per Kw/hour (kwh) in the case of solar photovoltaic and Rs. 10 per kwh in the case of solar thermal power fed to the electricity grid. The incentive will be provided to the project developers at a fixed rate for ten years. He said, in the preliminary stage, 50 MW solar power plants had been considered during the XI Plan. A maximum of 10 MW capacity cap had been put in place for the schemes to be sponsored by the States.

The scheme would be implemented through Indian Renewable Energy Development Agency (IREDA). Mr. Muttemwar said the private sector was expected to invest about Rs. 1,000 crore as developers in the solar power plants scheme.

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