India Development News & Foreign Investment Opportunities

Approved: 12,000-MW Solar PV Power Project

Project Investment: Rs.48,000cr 2019-23

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Project Investment: Rs.48,000cr 2019-23

 

The Cabinet Committee on Economic Affairs (CCEA) has approved the 12,000 MW grid-connected Solar Photovoltaic (PV) Power Projects by the Government Producers with Viability Gap Funding (VGF) support of Rs.8,580 crore.

The project, which will create an investment of Rs.48,000 crore, will be set up by the Government Producers in four years — 2019-20 to 2022-23.

It is part of the Ministry of New & Renewable Energy’s proposal for implementation of the Central Public Sector Undertaking (CPSU) Scheme Phase-II for self-use or use by Government or Government entities, both Central and State Governments.

The Scheme will mandate use of both solar photovoltaic (SPV) cells and modules manufactured domestically as per specifications and testing requirements fixed by MNRE.

The Scheme will also help in giving a push to ‘Make-in-lndia’ initiative by encouraging Government Producers to procure solar cells and modules from domestic manufacturers. The Scheme will create sufficient demand for domestically produced solar PV cells and modules for next three to four years. fiinews.com

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