India’s Solar Park Scheme Timeline Extended

India Extends Implementation Timeline For 40 GW Solar Parks & Ultra Mega Solar Power Plant Scheme By 2 Years
03:44 AM (Beijing Time) - 05. July 2018
india minister

India’s government has increased the Solar Park Scheme target from 20 GW to 40 GW last year. Now, it extended the timeline to develop the parks by 2 years Since the capacity target remains unchanged, there will be no additional financial implication, stated MNRE headed by RK Singh. (Photo Credit: Press Information Bureau)

Key Takeaways

  • MNRE has increased the timeline it had allotted for the implementation of the scheme for Development of Solar Parks and Ultra Mega Solar Power Projects
  • The earlier 2019-20 deadline has been increased by 2 years to 2021-22
  • MNRE has specified that the extension will have no additional financial implication

India’s Ministry of New and Renewable Energy (MNRE) has extended the timeline for the implementation of the Development of Solar Parks and Ultra Mega Solar Power Projects by 2 years to 2021-22, from 2019-20. It will have no additional financial implication, it stressed.

In early 2017, the President of India approved the government’s proposal to increase the scheme’s capacity target from 20 GW to 40 GW. It meant setting up at least 50 solar parks each with a capacity of 500 MW and above by 2019-20 (see India Doubles Solar Park Capacity Target To 40 GW). The government had also approved a so-called central financial assistance (CFA) of 81 billion INR ($1.17 billion).

The 20 GW in Phase 1 was to be met with 34 solar parks in 21 states. The government had made it clear back then that any extension beyond 2019-20 could be considered without any financial liability or additional financial implications.

The longer implementation period is expected to enable India develop the capacity in time to achieved its 100 GW as planned by 2022.

Anu Bhambhani

Anu Bhambhani is the News Editor of TaiyangNews

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Anu Bhambhani