Punjab Signs Rs 13 500 Cr Worth Solar Projects

Punjab on Monday signed MoUs worth Rs 13,500 crore for investment in solar projects. It also signed pacts for setting up five bio-ethanol plants worth Rs 6,000 crore in Punjab. The deals were signed at the first Renewable Energy Global Investors Meet and Expo in New Delhi.

Among the MoUs signed included one for 500-Mw ground-based power plants with an investment of Rs 4,000 crore by 8-Minute Energy, California, 100-Mw solar power projects with an investment of Rs 800 crore by Progetika-SRC, Italy, 300-Mw canal-based solar power plants with an investment of Rs 2,400 crore by Lightsource Renewable Development Ltd, UK, 200-Mw solar power projects with an investment of Rs 1400 crore by PLG Energy Systems, Rs 900 crore solar/biomass complex by Spray Engineers, Mohali, and R&D/training/technological development collaboration between British Photovoltaic Association, UK, and PEDA.

The minister also mooted a proposal to set up floating solar panels on 22,000 acres of reservoir of the Ranjit Sagar dam. He said this project alone could result in harnessing of 2000 Mw of solar power. Lightsource officials said they had established a floating solar park in England and would undertake a study to replicate the same at Ranjit Sagar. To encourage net metering, the minister also discussed with investors establishing pilot net metering projects to demonstrate to individual household owners the profitability of establishing rooftop solar panels.