Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
post

Budget of Rs 40,500 million proposed for setting up 25 solar parks

- Advertisement -

solar-market-indiaSaturday, November 29, 2014: A gross budgetary support of Rs 40,500 million has been proposed by renewable energy ministry for establishing 25 solar parks of 500 MW each and ultra-mega solar power projects for adding 20,000 MW green generation capacity within next five year.

The proposed money will be spent in phases with Rs 5000 million in 2014-15 to further up to Rs 14,000 million in 2018-19. Solar Energy Corporation of India under the ministry would act as a nodal agency and thus would also manage the funding for a fee, equivalent to 1 per cent of the grant disbursed. The parks would be made in alliance with the state governments.

Up till now, 12 states have given their consent for setting up solar plants, according to the renewable energy minister Piyush Goyal. He further added that according to the norms set up by the central tariff regulator, all the project developers would be shortlisted through bidding.

- Advertisement -

Also, the developers would be called after all the statutory approvals get in place. Further the land would be levelled and the parks would be given all additional infrastructures such as roads, water and communication facilities, needed for operating the plants. All these measures would assist in saving the additional expenditure by developers and also in reducing the project cost.

The central funds would be released according to the set milestones, starting with one per cent on the date of issue of administrative approval, which will further go up to 20 per cent at the time of acquisition of 50 per cent of land and another 20 per cent would be released upon the financial closure, which would go up till 25 per cent upon construction of pooling substation, land development and other facilities. And the remaining 20 per cent and 10 per cent fund would be released in link to the grid connectivity and upon completion of project, respectively.

- Advertisement -

Most Popular Articles

Arrow Electronics Expands R&D Centres In Munich, Istanbul

0
Backed by the iQmine acquisition, Arrow Electronics is expanding internationally with new R&D centres, boosting automotive innovation. US-based Arrow Electronics is expanding its international presence...
US TSMC Challenge

US Commerce Department Urges TSMC To Stop Selling AI-Powered Chips To China

0
The US instructed barring shipments of chips of 7-nanometer or more sophisticated chips, which power AI products and graphics processing units (GPUs). To put China...

NTPC Green Energy Eyes $12B Valuation In IPO

0
Launching soon, NTPC Green Energy aims for a $12B valuation with its ₹100 billion IPO, riding the wave of India’s booming renewable energy sector....

Wipro, FORVIA Partner To Boost Advanced Driver Assistance Systems

0
Wipro's Cloud Car Solution components help FORVIA enhance ADAS applications by optimising them, minimising reliance on hardware, and boosting safety features through a cloud-native...

Wolfspeed Lays Off 20% Workforce, Shuts US Facilities

0
Amid slowing EV demand and challenges in industrial and energy sectors, Wolfspeed plans to cut 20% of its workforce, close key fabs, and save...

“Adoption Of IoT-Enabled SMT Machines Is Still In Early Phases” – Pradeep Tandon, Director...

0
While electronics are becoming smarter through the Internet of Things, is electronics manufacturing following suit? Pradeep Tandon, Director for India, Middle East, and SAARC...
Dr Yashodhan P. Gokhale, Vice President for Battery Technology, JSW Energy

Charge Forward: High-Voltage Batteries And MSMEs Can Fuel India’s EV Revolution

0
A nuanced explanation of low- and high-voltage EV batteries by Dr Gokhale, Vice President for Battery Technology at JSW Energy, illuminates their advancements and...
Sanjay Gupta, CDO & Global Head of Engineering, L&T Semiconductor Technologies

Can MSMEs Contribute And Profit From The Semicon Boom?

0
Semiconductor manufacturing often requires significant investment, typically feasible only for governments or large corporations. But are there opportunities for MSMEs as well? We spoke...
N.P. Ramesh, COO and Co-Founder, Orb Energy

“We Ensured Customers’ Monthly EMI Would Be Equal To Or Less Than Their Electricity...

0
In a conversation with Nitisha from EFY, N.P. Ramesh of Orb Energy outlines the early financing challenges customers faced. He explains how Orb Energy’s...

“Government Policy Should Equitably Address All Electric Vehicles: Extend Subsidies To Retrofits Or Remove...

0
Aryaman Raghuvanshi from EFY engages with Pramod Narendra, Head of Brand Management and Retail Network at Starya Mobility, to explore the overlooked potential of...

Wireless Light-Based Communication With Velmenni’s Technology

0
Velmenni is at the forefront of wireless communication innovation with its pioneering light-based technologies, Li-Fi and LC Link. Founded by Deepak Solanki in October 2014...

Harnessing AI Technology For Efficient Pest Management

0
AI-Genix, an agri-tech startup, is transforming pest management for farmers through advanced AI-enabled systems that precisely target harmful pests. In an industry where pesticides and...

One Charger To Charge All Your Devices

0
Now, there is no need to carry different chargers for different products. This Bhubaneswar startup has launched a universal 65W charger using GaN technology...

Karnataka Government Initiative Promises ₹5M To Tech Startups

0
Boosting innovation and entrepreneurship across the state’s vibrant ecosystem, Karnataka launched Elevate 2024 and KAN, offering grants up to ₹5 million for startups. On Tuesday,...

CastNX Tech Startup Secures ₹232M For Power Electronics Growth

0
Eyeing to boost R&D and produce 100,000 variable frequency drives by 2026, Indian power electronics startup CastNX has secured ₹232.2 million from Plutus Investments. CastNX...

Industry's Buzz

Arrow Electronics Expands R&D Centres In Munich, Istanbul

0
Backed by the iQmine acquisition, Arrow Electronics is expanding internationally with new R&D centres, boosting automotive innovation. US-based Arrow Electronics is expanding its international presence...
US TSMC Challenge

US Commerce Department Urges TSMC To Stop Selling AI-Powered Chips To China

0
The US instructed barring shipments of chips of 7-nanometer or more sophisticated chips, which power AI products and graphics processing units (GPUs). To put China...

NTPC Green Energy Eyes $12B Valuation In IPO

0
Launching soon, NTPC Green Energy aims for a $12B valuation with its ₹100 billion IPO, riding the wave of India’s booming renewable energy sector....

Wipro, FORVIA Partner To Boost Advanced Driver Assistance Systems

0
Wipro's Cloud Car Solution components help FORVIA enhance ADAS applications by optimising them, minimising reliance on hardware, and boosting safety features through a cloud-native...

Wolfspeed Lays Off 20% Workforce, Shuts US Facilities

0
Amid slowing EV demand and challenges in industrial and energy sectors, Wolfspeed plans to cut 20% of its workforce, close key fabs, and save...

Learn From Leaders

“Adoption Of IoT-Enabled SMT Machines Is Still In Early Phases” – Pradeep Tandon, Director...

0
While electronics are becoming smarter through the Internet of Things, is electronics manufacturing following suit? Pradeep Tandon, Director for India, Middle East, and SAARC...
Dr Yashodhan P. Gokhale, Vice President for Battery Technology, JSW Energy

Charge Forward: High-Voltage Batteries And MSMEs Can Fuel India’s EV Revolution

0
A nuanced explanation of low- and high-voltage EV batteries by Dr Gokhale, Vice President for Battery Technology at JSW Energy, illuminates their advancements and...
Sanjay Gupta, CDO & Global Head of Engineering, L&T Semiconductor Technologies

Can MSMEs Contribute And Profit From The Semicon Boom?

0
Semiconductor manufacturing often requires significant investment, typically feasible only for governments or large corporations. But are there opportunities for MSMEs as well? We spoke...
N.P. Ramesh, COO and Co-Founder, Orb Energy

“We Ensured Customers’ Monthly EMI Would Be Equal To Or Less Than Their Electricity...

0
In a conversation with Nitisha from EFY, N.P. Ramesh of Orb Energy outlines the early financing challenges customers faced. He explains how Orb Energy’s...

“Government Policy Should Equitably Address All Electric Vehicles: Extend Subsidies To Retrofits Or Remove...

0
Aryaman Raghuvanshi from EFY engages with Pramod Narendra, Head of Brand Management and Retail Network at Starya Mobility, to explore the overlooked potential of...

Startups

Wireless Light-Based Communication With Velmenni’s Technology

0
Velmenni is at the forefront of wireless communication innovation with its pioneering light-based technologies, Li-Fi and LC Link. Founded by Deepak Solanki in October 2014...

Harnessing AI Technology For Efficient Pest Management

0
AI-Genix, an agri-tech startup, is transforming pest management for farmers through advanced AI-enabled systems that precisely target harmful pests. In an industry where pesticides and...

One Charger To Charge All Your Devices

0
Now, there is no need to carry different chargers for different products. This Bhubaneswar startup has launched a universal 65W charger using GaN technology...

Karnataka Government Initiative Promises ₹5M To Tech Startups

0
Boosting innovation and entrepreneurship across the state’s vibrant ecosystem, Karnataka launched Elevate 2024 and KAN, offering grants up to ₹5 million for startups. On Tuesday,...

CastNX Tech Startup Secures ₹232M For Power Electronics Growth

0
Eyeing to boost R&D and produce 100,000 variable frequency drives by 2026, Indian power electronics startup CastNX has secured ₹232.2 million from Plutus Investments. CastNX...