Ultra Mega Solar Parks
The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi on February 23 approved enhancement of capacity from 20,000 MW to...
The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi on February 23 approved enhancement of capacity from 20,000 MW to 40,000 MW of the Scheme for Development of Solar Parks and Ultra Mega Solar Power Projects. The enhanced capacity would ensure setting up of at least 50 solar parks each with a capacity of 500 MW and above in various parts of the country.
The Solar Parks and Ultra Mega Solar Power Projects will be set up by 2019-20 with Central Government financial support of Rs.8100 crore. The total capacity when operational will generate 64 billion units of electricity per year which will lead to abatement of around 55 million tonnes of CO2 per year over its life cycle.
The Government has rolled out a scheme for development of Solar Parks and Ultra Mega Solar Power Projects on 12th December 2014 which envisages setting up at least 25 Solar Parks and Ultra Mega Solar Power Projects targeting over 20,000 MW of solar power installed capacity within a span of 5 years starting from 2014-15. Under the existing scheme, solar parks of large capacity i.e. 500 MW or more can be set up.
All the States and UTs are eligible for benefits under the scheme. The State Government will first nominate the Solar Power Park Developer (SPPD) and also identify the land for the proposed solar park. It will then send a proposal to MNRE for approval along with the name of the SPPD. The SPPD will then be sanctioned a grant of up to Rs 25 Lakh for preparing a Detailed Project Report (DPR) of the Solar Park.
Thereafter, Central Financial Assistance (CFA) of up to Rs. 20 lakhs/MW or 30 percent of the project cost including Grid-connectivity cost, whichever is lower, will be released as per the milestones prescribed in the scheme. Solar Energy Corporation India (SECI) will administer the scheme under the direction of MNRE. The approved grant will be released by SECI. As on date, 34 solar parks of aggregate capacity 20,000 MW have been approved which are at various stages of development.