Punjab farmers can lease out land for solar energy

Here’s good news for farmers in Punjab seeking better returns from their land. More than 10 multinational companies are in the state to take land on lease for setting up solar energy plants.

Here’s good news for farmers in Punjab seeking better returns from their land. More than 10 multinational companies are in the state to take land on lease for setting up solar energy plants.

This was announced as the companies showcased their interest in the renewable energy business at the Punjab Solar Summit in Chandigarh on Thursday in the presence of deputy chief minister Sukhbir Singh Badal.

Such investments are now planned in the areas of the state bordering Pakistan besides less fertile land of southern Punjab where waterlogging and soil salinity deny farmers remunerative returns.

State renewable energy minister Bikram Singh Majithia assured the farmers of easy returns, saying that the land could be leased out for Rs 50,000 per acre per year for a period of 25 years. “This is an opportunity for farmers to explore the solar energy sector instead of tilling the land,” he added.