New policy soon to accelerate solar power projects

MNRE-logoA new solar policy is to be introduced by the government which can enhance large scale solar equipment production facilities. The policy is currently being worked upon and will soon be sent for the Cabinet’s approval, New & Renewable Energy Minister Piyush Goyal informed.

While addressing at SURYA KRANTI Summit organised by Bharat Solar-Power Development Forum in New Delhi, Goyal said that the new policy will promote the large-scale domestic manufacturing of solar equipment and make it more competitive.

The minister told that the submitted structure of the policy by an inter-ministerial committee headed by then Department of Industrial Policy and Promotion (DIPP) secretary Amitabh Kant is under evaluation. Both fiscal and non-fiscal incentives are proposed in the proposal to accelerate mega solar power projects in the country.

The new policy is expected to include a complete ecosystem for solar projects such as contours of power purchase agreement, grid connection, land to put solar panels and manufacturing of equipment.