MNRE has amended the guidelines for the implementation of the viability gap funding (VGF) program for solar PV projects under National Solar Mission (NSM) Phase-II.
The amendment will apply to projects worth 750 MW of capacity under Batch-I NSM Phase-II, 2,000 MW of capacity under Batch-III NSM Phase-II, and 5,000 MW capacity under Batch-IV NSM Phase-II.
As per the amendments, mandatory registration with state nodal agency will not be required for projects implemented by the Solar Energy Corporation of India (SECI). Earlier, there was a requirement for registration with the state nodal agency and obtaining the approval for project implementation. However, this process was time consuming and delayed project commissioning. The amendment is expected save a significant amount of time for developers and will expedite India’s process to reach set targets