Madhya Pradesh Urja Vikas Nigam limited (MPUVNl) and Madhya Pradesh Trade and Investment Facilitation Corporation ltd (MP TRIFAC), on Wednesday organized a Business Meet on Concentrated Solar Thermal Technologies (CST) and Solar Photo Voltaic (SPV).
It was presided by Manu Srivastava (Principal Secretary, New &Energy Department, Madhya Pradesh) with officials of MPUVN. Anil Misra, National Project Manager, United Nations Industrial Development Organization (UNIDO), Pankaj Kumar, National Technical Expert, UNIDO, and Puneet Gujral SE, MPUVN also attended the meet.
Speaking on the meet, Mr. Manu Srivastava said, “I would like to thank the industries for attending the business meet today.
I hope that the incentives and technology options will encourage them to opt for CST are SPV, which are environment friendly and will also promote energy savings. Industries using RESCO route will benefit from utilizing solar energy without paying capital investment.
Concentrated Solar Thermal Technologies have sub stantialincentive from MNRE, UNIDO and IREDA, and all incentive are available at a single window.”
Supported by UNIDO and the World Bank, this Business Meet was a call for industry and commercial institutions to install CST and SPV to save fossil fuels, reduce carbon footprint and make savings. The purpose of this meet was to bring to fore the economically viable solar technologies, like CST and SPV via the RESCO route, which are being further supported by substantial policy boost.
It was informed to the attending industries that CST technologies track sun’s incoming radiation with mirror fields/lenses and concentrate the energy.
They provide steam or hot water for industrial processes or may be indirectly used for even cooling.
The industry was quite interested about economic viability and the information about payback period: wherever CST offsets diesel, gas or furnace oil, the project payback ranges from 3–4 years, while the payback may be slightly higher (5–7 years) where the industry uses biomass, coal or wood. The industries located in Indore were informed about Capital subsidy @ 30% provided by MNRE, GoI, 45% loan from IREDA and interest subvention of 5% by UNIDO.
Indore based industries were also informed of the possibility of having an SPV project, which involves setting up of solar panels to generate electricity.
If implemented through the RESCO mode, it requires no capital investment whatsoever from industry and the industry can get power at much lower rates than the present grid rate.
MPUVN has identified more than 550 project sites, adding to 28 MWp rooftop capacity for its ongoing RESCO tender, which is the first batch of several such tenders. It is continuously identifying more project sites and undertaking preliminary diligence, to be included in the present and subsequent batches of RESCO tenders in the state. Industries from Indore can join in the same.
World Bank and Asian Development Bank have stapled their highly concessional line of lending for the winning contractor through SBI and PNB respectively at around 8.5% per annum, which is approximately 4% less than the commercial lending rate of SBI which is about 12.5%. This is expected to bring down the rate of power supply under RESCO mode.
The next business meets are scheduled to take place in Bhopal on June 29 and in Satna on July 2.