In a bid to harness solar energy, Punjab is all set to take major strides with PEDA finalising the allocation of 250 MW Solar PV power projects to prominent companies and young entrepreneurs.
Punjab Non-Conventional Energy Minister Bikram Singh Majithia on Saturday said that projects of total capacity 250 MW would be allocated shortly to the 27 companies whose financial bids were opened on Friday under the Reverse Tariff based bidding carried out by PEDA for the 300 MW Solar PV Power Projects competitive bidding.
He said major companies like lanco Solar, Punj loyd, Asopus, Azure would set up large capacity solar power projects ranging from 10 to 30MW.
Besides this, the smaller companies and young entrepreneurs have also being allocated a total capacity of 50MW projects in the range of 1-4MW capacities per project, he added.
Majithia added that the tariff quoted for these projects ranges from Rs 7.20 to Rs 8.71 for smaller category of 1 to 4 MW capacity projects and Rs 7.56 to Rs 8.74 for higher projects of capacity ranging from 5.30 MW. These project developers would be facilitated and provided every possible help by PEDA and long term Power Purchase Agreement for 25 years would be signed with PSPCl at the tariff quoted by the companies.
He said that these projects would be completed and commissioned by December 31, 2014. The Minister said these projects would bring joint investment of Rs 2,000 crore and were estimated to contribute 375 million units of Green Power to the state grid besides providing direct employment to 500 persons.
“The State has major potential in the area of Solar and Biomass power generation and the State Government was fully committed to promote and develop these green power generation sources and technologies,” he said, adding that Punjab had already declared a new NRSE Policy-2012 to provide major incentives for setting up Renewable Energy Projects.
Under the new policy, solar power generation target has been fixed at 1,000 MW. Second phase of project allocations would be taken up towards the end of current year.
Majithia said the State Government has also chalked out an ambitious plan for Rooftop PV programme for generation of power from the setting up of PV projects on the rooftops in Government buildings, private, institutional, commercial and residential buildings. The concept of sale of power from the rooftops, the utility and net metering programmes would be launched very soon. Besides this, the State would also provide all incentives for setting up of manufacturing units of Renewable Energy equipment and devices to various developers and companies.