Thousands of acres of agri land to be saved
The state government has decided to take up Solar Power Photovoltaic (PV) projects with a total capacity of 300 MW in Punjab. These projects include 200 MW Canal Top Solar PV Power Projects and 100 MW Floating Solar PV Power Project on reservoirs and lakes.
The decision was taken in a high-level meeting chaired by New and Renewable Energy Sources Minister Aman Arora.
He said that the proposed 200 MW Canal Top Solar Project would be installed in a phased manner, with 50 MW installed in the first phase. These projects will be executed in Build, Operate and Own (BOO) mode by Punjab Energy Development Agency (PEDA), he added.
About the feasibility of these projects, the Cabinet Minister said that Viability Gap Funding (VGF) has been sought from the Department of Economic Affairs under the Ministry of Finance.
The cost of the Canal Top Solar PV Projects is expected to be around Rs 5 crore per MW after taking into consideration 20 per cent VGF. The 200 MW Canal Top Solar PV Projects will save at least 1000 acres of agricultural land, besides generating local employment and preventing water evaporation from canals.
The Floating Solar PV Projects will be installed on lakes and reservoirs and also help in saving thousands acres of agricultural land. The cost of these projects would be around Rs 4.80 crore per MW after considering 20 per cent VGF.