Connect with us

Hi, what are you looking for?

CleanTechnica

Clean Power

Indian Government May Announce Budgetary Support For 3 GW Solar Power Capacity

Huge budgetary allocation for promotion of solar power can be expected in the upcoming financial budget to be announced by the Indian government later this month.

According to media reports, the government may consider earmarking financial as well as non-financial support for 3 GW of solar power capacity in the financial year 2016–2017 (April 2016 to March 2017). Specifically, the support may be announced for the ultra mega solar power projects programme that targets setting up 20 GW capacity across various states in the country.

An inter-ministerial committee has presented the proposal to the finance ministry, which will take a final decision on the issue. While offering support for setting up large-scale solar power projects, the government may also ask project developers to set up manufacturing units to increase employment, another major goal of the current government.

Last month, the Indian government approved funding worth Rs 5,050 crore (US$750 million) through the Solar Energy Corporation of India (SECI) as viability gap funding to set up 5 GW of solar power projects. These projects will form part of the Batch IV of Phase II of the National Solar Mission that aims to have an operational solar power capacity of 100 GW by 2022. This is the third such approval by the Indian Government to develop projects under the viability gap funding mode.

 
 
 
Appreciate CleanTechnica’s originality and cleantech news coverage? Consider becoming a CleanTechnica Member, Supporter, Technician, or Ambassador — or a patron on Patreon.
 

Don't want to miss a cleantech story? Sign up for daily news updates from CleanTechnica on email. Or follow us on Google News!
 

Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.
Advertisement
 
Written By

An avid follower of latest developments in the Indian renewable energy sector.

Comments

You May Also Like

Biofuels

At the coal face of a conference that involved governmental figures, academics, logistics customers and OEMs, the detailed technical conversations are almost all about...

Cars

After a very slow start, the Indian battery-electric car market is starting to get exciting. BYD is expanding its presence in the country, shifting...

Cars

India’s electric 2-wheeler market has been booming over the last few years. However, the electric car sector has been pretty slow. India’s electric car...

Clean Power

Indian hydropower company SJVN has announced start of construction of a large solar power park in the northern state of Rajasthan.  On January 3rd,...

Copyright © 2023 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.