MNRE offers Rs.134.70 cr Viability Gap Funding
In a major thrust towards achieving Government of India’s Renewable Energy capacity addition target and the goal of Net Zero by the year 2070, Prime Minister Narendra Modi has laid the foundation stone of the 300 MW Solar Power Plant at Bikaner.
The Rs.1,732 crore project at Karnisar-Bhatiyan vilage, in Poogal Tehsil, Bikaner, is being set up by NHPC Limited under Government’s CPSU Scheme, Phase-II, Tranche-III. The PM laid the stone through video conferencing mode on 16 Feb 2024.
Equipped with cutting-edge technology, including high-efficiency bifacial modules manufactured in India, the solar project aligns with the Atma Nirbhar Bharat initiative.
The electricity generated will be transmitted through Bikaner-II Inter State Transmission System Substation. The project aims to produce around 750 million units of green power annually, considering a Capacity Utilization Factor (CUF) of 28.50%. This will thereby offset carbon dioxide emissions of approximately 18,000 million Metric tons over its lifetime.
The Power Usage Agreement for the project has been inked with Punjab State Power Corporation Limited (PSPCL), at a competitive tariff of Rs.2.45/unit for 25 years, considering Viability Gap Funding (VGF) of Rs.134.70 crores offered by the Ministry of New & Renewable Energy (MNRE).
The project is scheduled for commissioning by September 2024. It has the potential to create around employment opportunities for approximately 600 individuals indirectly during the project phase and 100 personnel during the Operations & Maintenance phase.
Furthermore, as per the provisions of Solar Policy of the state, the Government of Rajasthan will also get a contribution towards Rajasthan Renewable Energy Development Fund for development of large power system infrastructure for grid management, other supporting infrastructure and facilitation works for the stakeholders. Fiinews.com
