February 6, 2019
The grid-connected solar photovoltaic power plants under the Central Public Sector Undertaking (CPSU) Phase-ll Scheme will have combined generation capacity of 12 GW
The project will be backed by the Government producers with Viability Gap Funding (VGF) support of US$1.2 billion and will be launched between 2019-20 and 2022-2
The project will use of both solar photovoltaic (SPV) cells and modules manufactured domestically as per specifications of the MNRE, while giving a push to ‘Make-in-lndia’
The project will provide direct employment to around 60,000 persons for about one year in construction, and to 18,000 persons for about 25 years in the operation of the plants
The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Shri Narendra Modi, has approved the Ministry of New and Renewable Energy’s proposal to launch a nationwide solar project. The grid-connected solar photovoltaic power plants under the Central Public Sector Undertaking (CPSU) Phase-ll Scheme will have combined generation capacity of 12 GW. The project will be backed by the Government producers with Viability Gap Funding (VGF) support of US$1.2 billion and will be launched between 2019-20 and 2022-23. This is expected to create investment opportunities of US$6.7 billion.
The project will use of both solar photovoltaic (SPV) cells and modules manufactured domestically as per specifications and testing requirements fixed by the MNRE, while giving a push to ‘Make-in-lndia’. The scheme will create sufficient demand for domestically produced solar PV cells and modules for three to four years. The project will provide direct employment to around 60,000 persons for about one year in pre-commissioning activities and construction, and to 18,000 persons for about 25 years in the operation and maintenance of the plants. Manufacturing of solar products may see another 120,000 new jobs.
India had recently organised the first assembly of the International Solar Alliance (ISA). The alliance, with India as a founding member, brings together over 120 nations to promote funding and development of solar energy projects. The alliance aims to mobilise investment of more than US$1 trillion from public and private enterprises to instal over 1,000 GW of solar generation capacity worldwide by 2030. India is in the process of setting up renewable energy capacity of 175 GW by 2022, comprising 100 GW of solar. Meanwhile, globally, India currently stands 5th in renewable power and solar power installed capacity.