The government Wednesday gave its nod to a proposal for setting up 12,000 MW grid-connected solar photovoltaic (PV) power projects with an estimated viability gap funding of Rs 8,580 crore.
The decision was taken by the Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi, Law Minister Ravi Shankar Prasad said here.
The proposal seeks to implement "the Central Public Sector Undertaking (CPSU) Scheme Phase-ll for setting up 12,000 MW grid-connected Solar PV Power Projects, by the Government Producers with Viability Gap Funding (VGF) support of Rs 8,580 crore for self-use or use by Government or Government entities, both Central and State Governments", an official statement said.
With the implementation of the scheme, 12,000 MW or more of grid connected solar PV power projects would be set up by government producers in four years (2019-20 to 2022-23), thereby creating investment of about Rs 48,000 crore, it said.
"The Scheme will mandate use of both solar photovoltaic (SPV) cells and modules manufactured domestically as per specifications and testing requirements fixed by MNRE (Ministry of New & Renewable Energy)," it added.
The scheme aims to provide direct employment to about 60,000 persons for about one year in pre-commissioning activities/construction phase and to around 18,000 persons for about 25 years in the operation and maintenance period.
In addition, more than 1.2 lakh employment opportunities will be created for the local population by way of involvement in setting up of solar power projects and also in manufacturing of domestically produced cells and modules, the release said.
The CCEA also approved a proposal for continuation of the scheme of 'Exploration of Coal and Lignite' with an expected expenditure of Rs 1,875 crore.
"The approved scheme is for carrying out 24,41,500 meter of drilling and 3,575 line km (LKM) of surface geophysical survey for Promotional (Regional) Exploration & Detailed drilling in Non CIL Block in Coal and Lignite along with CBM/Shale gas studies and associated studies to estimate and prove coal resources during 3 years period," another release said.
Under the scheme, about 7 billion tonnes of resources will be established and 11 billion tonnes of resources will be proved.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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