India Approves Development Of 5 Gigawatts Of Solar Parks

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The Indian government has granted approval for setting up eight solar power parks in the state of Uttar Pradesh. 

Eight solar power parks with cumulative capacity of 4,995 megawatts will be developed jointly by the Uttar Pradesh Non-Conventional Energy Development Agency (UPNEDA) and the National Hydro Power Corporation (NHPC). The two companies have set up a joint venture called Bundelkhand Saur Urja for this purpose. 

The largest of these solar parks will be located at Jalaun and have a capacity of 1.2 gigawatts. 

Development of these solar power parks are likely part of the state government’s ambitious plan to add 22 gigawatts of solar power capacity over the next five years. 14 of the 22 gigawatts of capacity is planned to be added in the form of solar power parks, 6 gigawatts through rooftop solar power projects, and 2 gigawatts through agri solar projects. 

The policy also includes several incentives for development of solar power parks and large scale projects. The government will lease land for solar power parks at a very nominal charge for a period of 30 years. Additionally, these projects will also be exempt from certain taxes associated with purchase of land. The government will also provide capita subsidy for setting up transmission infrastructure for the new solar power projects. 

The eastern part of Uttar Pradesh is a largely barren region and offers substantial opportunities to project developers to set up solar power projects and sell power within and outside the state. Incentives for land purchase and setting up transmission infrastructure sweeten these prospects further. 

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

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