The Central Government financial assistance of Rs.150 crores has been allotted in turns to promote the use of solar power among the industries. According to Tamil Nadu Energy Development Agency (TEDA) Deputy General Manager of Madurai Region, S.E.S. Syed Ahamed, it is has been provided under the scheme of Union Ministry of New and Renewable Energy (MNRE), with the sum being split in to two equal parts for the current and next financial year.
The Madurai Region of TEDA covers 16 districts of south and central Tamil Nadu.
Mr. Syed told media that under the ‘Solar Photovoltaic stand-alone power plant’ special scheme, Rs. 1.25 lakh per kilowatt would be provided as capital subsidy for industries installing SPV units of capacity between 1 to 10 KW.
He also added that a sum of Rs. 300 crore has been provided under the 11th five year plan to promote use of solar stand alone power and other SPV utilities among industries. Another sum of Rs. 1.50 lakh per 1 KW would be provided as capital subsidy for units installing SPV units of capacity between 10 to 100 megawatt.
By giving an example, he told that a 100 KW SPV plant will approximately require a capital of Rs. 2.5 crore, of which the industry can avail Rs. 1.5 crore in subsidy. The industry has to pitch in only 40 per cent of the project cost, which could also be recovered in three years.
For the scheme, he said that it is very attractive and would be of immense benefit to industries in Tamil Nadu to mitigate effects of the power crisis and reduce costs.
He told that the solar power plants can generate power for 300 days a year. The lifetime of a SPV plant is 25 years at the minimum and it provides an assured supply of power. The solar power plant would take between six and nine months for installation.
Source: The Hindu
