MNRE amends VGF program guidelines for solar power projects

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

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