Majithia for easy credit to solar power developers

  • HT Correspondent, None, Chandigarh
  • Updated: May 08, 2015 21:58 IST

Punjab new and renewable energy minister Bikram Singh Majithia on Friday ask financial institutions and banks to provide easy credit to solar power developers and also launch a special package for rooftop-solar projects.

Presiding over a meeting with financial institutions and banks in New Delhi, Majithia said Punjab had taken major initiatives in launching innovative programmes in the new and renewable energy sector with the purpose of enhancing clean and green power generation capacity in the state.

He pointed out that the state was actively promoting and facilitating the setting up of ground-based, rooftop-based, canal top-based and reservoir-based solar power generation systems.

Majithia held a meeting with representatives of the Indian Renewable Energy Development Agency, Power Finance Corporation, Larsen and Toubro Infra Finance, Industrial Development Bank of India, Asian Development Bank, National Bank for Agriculture and Rural Development (Nabard), Bank of India and Tata Power Solar.

The minister said the state's present new and renewable sources of energy power generation capacity was 811 MW and it was planned to raise it to 5,400 MW by 2022. A major initiative of launching the farmer scheme for solar power generation, with a total capacity of 500 MW, was highlighted.

Majithia called upon senior officers of banks and financial institutions to actively participate in the state's initiative in renewable energy, which has an estimated investment potential of Rs 33,000 crore, of which Rs 23,000 crore was the financing requirement for setting up of these projects.

Anirudh Tewari, secretary, new and renewable energy, Punjab, explained about the huge potential of 1,000 MW on canal tops and reservoirs in the state. Tejinder Pal Singh Sidhu, chief executive officer, Punjab Energy Development Authority (PEDA), was also present on the occasion.

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