The central government has accorded approval to the Ministry of New and Renewable Energy’s (MNRE) proposal for setting up 12,000 MW of grid-connected solar photovoltaic (PV) power projects under the central public sector undertaking scheme (Phase-ll). A viability gap funding support of Rs 85.8 billion will be provided for these projects. Earlier, the Cabinet Committee on Economic Affairs (CCEA) had granted approval for these projects in February 2019.
The proposal mandates use of both solar PV cells and modules manufactured domestically as per specifications and testing requirements fixed by the MNRE.
The solar power projects will be set up by the government producers in four years that is from 2019-20 to 2022-23, as per the terms and conditions specified under the scheme.