MNRE Extends Timeline for Implementing 40 GW ‘Solar Parks and Ultra Mega Solar Power Projects’ Scheme to 2021-22

The timelines of the scheme is extended from 2019-20 to 2021-22 without any additional financial implication.

The Ministry of New and Renewable Energy (MNRE) has extended the timeline for the implementation of 40 GW scheme for developing solar parks and ultra mega solar power projects from 2019-20 to 2021-22.

The MNRE said in a statement that, “The guidelines for implementation of scheme for ‘Development of solar parks and ultra mega solar power project’ issued vide this Ministry’s order no. 30/26/2014-15/NSM dated 21st March, 2017. The timelines of the above scheme is extended from 2019-20 to 2021-22 without any additional financial implication.”

The move will provide more time for developers and EPC companies for implementing their projects.

Earlier in March last year, the President of India had sanctioned the implementation of a scheme to enhance solar park capacity from 20 GW to 40 GW for ‘Development of solar parks and ultra mega solar power projects’ for setting up of at least 50 solar parks each with a capacity of 500 MW and above by 2019-20, with an estimated central financial assistance (CFA) of Rs 8,100 crore.

The objective of the scheme is to provide a huge impetus to solar energy generation by acting as a flagship demonstration facility to encourage project developers and investors, prompting additional projects of similar nature, triggering economies of scale for cost-reductions, technical improvements and achieving large scale reductions in GHG emissions.

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