The value and importance of solar energy sector in the country is steadily gaining momentum. The obvious visibility of numerous solar power developers across different regions in the country is one of the better ways to analyse the progress made till date.
Ministry policies like Jawaharlal Nehru National Solar Mission (JNNSM) have laid down the groundwork for the next decade or so. And voicing their opinion on the matter, Federation of Indian Chambers of Commerce and Industry (FICCI) has said that in order to tap the immense potential of solar energy in the country, the government needs to create separate window for easy access to finance under the National Clean Energy Fund (NCEF).
The body has released a white paper that urges the government to introduce transparent and easy funding process, especially solar that will help in bringing down the cost of the project. The paper has been sent to the government, seeking its approval.
“Given the challenges faced by the solar industry in India due to the high cost of finance, the government’s decision to extend an interest subsidy from the NCEF for enabling lowering the cost of finance for renewable energy projects is a commendable step,” a statement released by FICCI said.
The body has also suggested that subsidies should be made available via lenders for such project developers, so that the interest rate on loans can be brought down.
