Punjab Govt. to Set up 300 MW Solar Power Capacity in the State
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.
The remaining 100 MW of floating solar projects on lakes and reservoirs have an estimated developmental cost of Rs. 4.80 crore per MW of solar power capacity.
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.