Punjab on Monday inked memorandums of understanding (MoUs) worth Rs13,500 crores for investment in solar projects besides setting up of five bio-ethanol plants worth Rs6,000 crores in the state at the first Renewable Energy Global Investors Meet and Expo in New Delhi.
The MoUs were signed for 500 mega watt (MW) ground-based power plants with an investment of Rs4,000 crores by 8-Minute Energy, California; 100 MW solar power projects with an investment of Rs800 crore by Progetika-SRC, Italy; 300 MW canal-based solar power plants with an investment of Rs2,400 crores by lightsource Renewable Development limited UK; and 200 MW solar power project with an investment of Rs1,400 crores by PlG Energy Systems.
Besides, an MoU for Rs900 crore Solar or Biomass complex was also signed by Spray Engineers, Mohali, in addition to R&D, Training, Technological development collaboration between British Photovoltaic Association, UK, and Punjab Energy Development Agency (PEDA).
Punjab’s New and Renewable Energy Minister Bikram Singh Majithia also finalised a MoU with CVC India Infrastructure, Italy, for establishment of five bio-ethanol based refineries based on paddy straw, napier grass and cotton stalks at a cost of Rs6,000 crores.
CVC officials said that they intend to commence commercial production by December 2017 for the first bio-refinery. Majithia, during interactions with investors, appreciated the commitment of lightsource Renewable Development to come up with appropriate technology for a canal based solar project utilising the space available on canals from a width of 50 to five meters.
“There is a huge potential for canal based projects as the total canal length in the State ran up to 5,000 kilometers,” he said. He also mooted a proposal to set up floating solar panels on 22,000 acres of reservoir of the Ranjit Sagar dam. “This project alone could result in harnessing of 2,000 MW of solar power,” he added.
lightsource officials said that they had established a floating solar park in England and would undertake a study to replicate the same at Ranjit Sagar. To encourage net metering, Majithia also discussed with investors to establish pilot net metering projects to demonstrate to individual household owners the profitability of establishing rooftop solar panels.
He also stressed on the need to lay more stress on biomass power. “This potential has not been harnessed at all…In Punjab alone, 20 million tonnes of agriculture residue is being burnt every year,” he said.
Urging the policy makers to come up with a revised tariff for biomass projects, Majithia said that this was important so that farmers could also earn an additional income. “Economies of scale will reduce the tariff rates progressively as has happened in the case of solar power,” he added.