Greentech Lead India: Punjab would see a 10 percent increase in solar power production by 2020, said state cabinet minister Bikram Singh Majithia as reported by IBN Live.
The state government is looking at renewable energy sources to meet the rising demands for electricity.
The “sun will be our next power plant,” the Minister said referring to the initiatives taken by government to harness renewable energy sources. The government’s new and renewable power sources policy of 2012 also proves to be a milestone in Punjab’s development story.
As part of these initiatives, in March the state of Punjab is inviting bids for the allocation of 300 MW of solar PV in the first phase of its state solar policy. The project allocation has been divided into two categories.
Under Category 1, a total of 50 MW will be allotted for newly incorporated or existing companies that have no experience in setting up and operating solar projects.
The minimum capacity of the project under Category 1 has been set at 1 MW and the maximum capacity at 4 MW. The allotment of project capacities in this category will be in the multiples of 1 MW.
The state government has extended incentives to renewable power projects.
Punjab has formulated a renewable energy policy that covers solar, wind, biomass and small-hydro power. The state has a solar carve out under this policy of 0.19 percent by 2015, which will require it to add 65MW of solar into the energy mix.
The nodal agency, Punjab Energy Development agency (PEDA), aims to add 200MW by 2020 through competitive bidding. However, the policy allows a developer the flexibility to enter into a private PPA directly with a state DISCOM or participate in the competitive bidding process.