The project funding will improve the capacity and efficiency of interstate transmission networks, particularly in transmitting the electricity generated from new solar parks to the national grid, an ADB statement said.
Under the scheme, the government will provide financial assistance and capital subsidy to the extent of 50 percent, 75 percent and 90 percent of the basic cost of the solar energy plant to applicants.
Speaking to CNBC-TV18, Power Minister Piyush Goyal said the central support had been doubled to Rs 8,000 crore based on the successful bidding for the Rewa solar park where they discovered a price of 2.90 per unit of solar energy.
Solar energy is a phenomena that energy producers across the world are betting their money on as fossils begin to deplete. In 2014, Prime Minister Narendra Modi announced the very ambitious plan of generating 100 gigawatt of renewable energy by 2022.
India is poised for huge growth in solar energy and it won't stop at the 100GW solar power target to be achieved by 2022, Power Minister Piyush Goyal has said.
"The government has planned to overcome the challenge by launching the schemes like development of solar parks and ultra mega solar power projects, development of solar zones in the country and roof top solar projects," Minister for Power, Coal and New and Renewable Energy Piyush Goyal said during Question Hour.
The company said in a statement that it has secured land and financing for this project, which was auctioned by NTPC, and designated under National Solar Mission for a total capacity of 1,000 MW of solar power projects at Kurnool Ultra Mega Solar Park.
Solar energy firm Azure Power today announces that it has tied up approximately USD 470 million financing for its projects to be commissioned in 2017.
Our present energy use relies on vast storage facilities, underground reservoirs of natural gas, tankers of fuel, even water stored in hydroelectric dams. As our energy use changes so will our energy storage options.
The conference will also project Indian Railways as an attractive investment destination considering its plans for huge investment in next 5 years towards modernization of its electrified network and use of renewable energy.
Nagaraj Naidu, Director-General of Investment Trade and Promotion Division of Ministry of External Affairs, introduced the overall investment environment and guidelines for benefit of companies from Huzhou city at the India-China Business and Investment Forum and India Week celebrations.
"The rationale behind developing Paradip as a smart city is that Paradip already has a major port and with strong mineral resource presence in the region... these factors will make Paradip a hub for Micro, Small and Medium Enterprises (MSME)," the Ministry of Shipping said in a statement.
Stating that time for incremental change is long over, Modi called for a roadmap to lay the foundation for the country's growth over the 21st century.
The Indian Council for Research on International Economic Relations and the Climate Policy Initiative in their reports have identified potential pathways to decarbonise the Railways by 2030.
Home buyers today, especially the younger generation, are increasingly warming up to the concept of â€˜green homes‘. These homes offer multiple benefits, not only in terms of a healthy lifestyle, but also provide serious R
When scouting for avenues for investment in solar assets, it may be considered that distributed generation of solar power may either be done off-grid (serving rural areas without grid connectivity) or on-grid (residential and commercial rooftop solar plants).
Inconsistency in solar renewable purchase obligation (RPO) norms across the states and shortfall in RPO compliance are some of the regulatory challenges for the solar energy sector
Dr Harsh Vardhan, Minister for Science and Technology and Earth Sciences, met his UK counterpart, Jo Johnson, here for the fifth Indo-UK Science and Innovation Council meeting today to establish the India-UK Networked Centre on Solar Energy.
Apple Energy LLC is seeking to sell power at wholesale prices, in part from the solar energy and hydroelectric facilities connected to places like the Apple Data Center, according to documents filed with the Federal Energy Regulatory Commission.
As part of clean energy initiatives, the government will provide subsidy to those powerlooms which use solar energy to run their operations.
German auto major Daimler has increased the solar energy capacity at its Chennai plant to 3.3 MW that would address the "one-fourth of the average daytime power" need for the facility
SoftBank, which owns one of Japan's biggest mobile carriers and a controlling stake in US-based Sprint Corp, will make its first USD 350 million investment in a solar project in India, its Chief Executive Masayoshi Son told PTI here.
We see a huge growth potential in the solar sector especially when the government is taking several initiatives to increase power capacity from the renewables, International Business Head Prasad Chaporkar told PTI.
Punjab Chief Minister Parkash Singh Badal on May 17 dedicated the 'Single Rooftop Solar Power Plant' with capacity of 11.5 MW to the state at Dera Baba Jaimal Singh of Radha Soami Sect in Beas
Government stopped tax-free bonds as it thinks that these would distort the market, he said. "Some are raising taxable bonds and some are raising tax-free bonds probably that is their (government) thinking." The CMD further said that 100 GW solar energy target is achievable.