Punjab Energy Development Agency (PEDA), the state’s nodal agency for Renewable Energy projects, will be setting up 300 MW solar power capacity in the form of 200 MW canal-top solar projects and 100 MW floating solar projects on lakes and reservoirs.
During a meeting held in Chandigarh on 21st November 2022, Punjab’s New and Renewable Energy Sources Minister Aman Arora stated that canal-top solar projects will be developed in a phased manner. In the first phase, 50 MW of solar capacity will be developed out of the envisaged 200 MW canal-top solar power, while the rest will be developed in the phases that follow. The cost of developing these projects will be around Rs. 5 crore per MW of canal-top solar power.
PEDA will develop these projects on a Build-Own-Operate (BOO) basis. Viability Gap Funding (VGF) for these projects will be availed from the Department of Economic Affairs under the Union Ministry of Finance.