The Punjab Government is all set to introduce Punjab Energy Development Authority (PEDA) approved land lease policy for farmers in order to set up renewable energy projects. Under this scheme, PEDA would safeguard the interests of farmers and ensure they get more lease value for their land as compared to market rates with yearly increment of six per cent, announced the State New and Renewable Energy Minister Bikram Singh Majithia on Wednesday after inaugurating a four megawatt (MW) solar power plant.

He said: “The project envisages creating farmer entrepreneurs as well as supplementing income sources of the farming community.” “PEDA would facilitate setting up of projects related to renewable sources of energy on farmer-owned land wherein private investors will take the land on lease from farmers for a period of 25 years,” he said.

He also said that as per another scheme, PEDA would also allow farmers to set up solar plants of a minimum capacity of one MW and maximum of 2.5 MW. Farmers have already evinced keen interest in this scheme and applications have been received to set up projects in 2,000 acres of land. Majithia, sharing the State’s plans to develop renewable energy resources, said that he had set a target of increasing the percentage of renewable energy in the total energy generated in the state to 15 per cent.

“We have set targets to develop 5400 MW total non-conventional power capacity by 2022 with the generation of 300 MW from biomass, 680 MW from co-generation power, 4200 MW from solar, 200 MW from hydel and 20 MW by converting waste to energy,” he said.