NEW DELHI: The renewable energy ministry has proposed a gross budgetary support of Rs 4,050 crore for setting up 25 solar parks of 500 mw each and ultra-mega solar power projects to add 20,000 mw green generation capacity in the next five years.
The money is expected to be spent in phases, starting with Rs 500 crore in 2014-15 and rising to Rs 1,400 crore in 2018-19. Solar Energy Corporation of India under the ministry would be the nodal agency and manage the funding for a fee, equivalent to 1% of the grant disbursed.
The parks would be developed in collaboration with state governments. Altogether 12 states have given their consent for setting up solar plants, renewable energy minister Piyush Goyal told Lok Sabha in a written reply on Thursday. He said the project developers would be selected through bidding as per norms set by the central tariff regulator.
Broad contours of the scheme indicate measures to make the parks attractive for investors by offering readymade locations. Promoters usually have to spend a lot of time for getting approval for changing land use and other clearances from various state government bodies, including consent from state transmission utilities.
Under the scheme, developers would be invited after all statutory approvals are in place. Besides, the land would also be levelled and the parks would come with additional infrastructure such as access to roads, water and communication facilities required for commissioning and operating the plants.
These measures would save additional expenditure by developers and reduce project cost. Goyal pegged the project cost at Rs 0.95 crore per mw.
Release of central funds would be graded according to milestones, starting with 1% on the date of issue of administrative approval. This would go up to 20% upon acquisition of 50% land. Another 20% would be released upon financial closure, which would rise to 25% upon construction of pooling substation, land development and other facilities. Another 20% fund would be linked to grid connectivity and final installment of 10% would be released upon completion of the project.
States would be free to choose their agency for implementing, developing and maintaining the solar parks. Special purpose vehicles of state governments too would be eligible to develop and manage the parks, as would be 50:50 joint ventures between SECI and state government entities.
The ministry is modelling the scheme after the 590 mw Charanka solar park in Gujarat. Such large solar parks are expected to reduce construction and operations costs owing to economy of scale. But smaller parks could also be considered under the scheme in Himalayan states where large tracts of contiguous land may be difficult to acquire.
Source:economic times
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