The Ministry of New and Renewable Energy (MNRE) has written to the Karnataka government expressing its concern over delays in granting land approval for various solar projects, affecting the country’s renewable growth trajectory.
The letter cites 24 solar power projects with total capacity of 970 MW being implemented by the Solar Energy Corporation of India (SECI) under MNRE’s 2,000 MW Viability Gap Funding (VGF) program in Karnataka.
According to guidelines and bidding conditions of the VGF program, a project developer must file a financial closure within seven months from signing the power purchase agreement (PPA).
One of the conditions to reach financial closure is that the solar project developer should have all the necessary documents to show that the land has been secured for the project. Read More