Tuesday, March 11, 2014: The Ministry of New and Renewable Energy (MNRE) has reportedly approved Rs 2.99 Billion or $ 48 million) as subsidy for installation of 17,500 solar water pumps in the country, to support irrigation for agriculture. The ministry will also fund for 68,000 PV lights under the small PV/PV lighting programme.
The total project cost is estimated at Rs 9.97 Billion or $ 160 million, and is limited to states that are willing to contribute at least 15 per cent of project costs. MNRE has listed eight participating states that include Rajasthan, Tamil Nadu and Andhra Pradesh. The ministry will further review the program in the coming six months.
Meanwhile, the MNRE funds for small PV/PV lighting programme, as the ministry has also committed to subsidise the installation of 68,000 solar photovoltaic lights and small solar photovoltaic (PV) systems. These installations will be through various state-owned and cooperative banks, under the Government of India’s Jawaharlal Nehru National Solar Mission (JNNSM).
The total cost of installing 68,000 systems is estimated at Rs 3.67 Billion or $ 60 million, and MNRE expects to pay out up to Rs 1.50 Billion or $ 24 million, in subsidies.
The programme will provide a 40 per cent subsidiary for PV systems up to 300 watts with batteries, and 30 per cent for PV systems up to 1 kW. The banks will provide loans for the remaining 60 per cent of the cost at normal interest rates.
