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India to Cancel Solar Permits of Companies That Don’t Get Loans by July 9

As one of the eight National Missions outlined in National Action Plan on Climate Change, the Jawaharlal Nehru National Solar Mission (JNNSM) specifically focuses on solar energy and its role in minimizing future emissions.

 The Government has launched JNNSM in January, 2010 with a target of 20,000 MW grid solar power (based on solar thermal power generating systems and solar photovoltaic (SPV) technologies), 2000 MW of off-grid capacity including 20 million solar lighting systems and 20 million sq.m. solar thermal collector area by 2022

Government has also approved the implementation of the first phase of the Mission (upto March, 2013) and the target to set up 1,100 MW grid connected solar plants including 100 MW of roof-top and small solar plants and 200 MW capacity equivalent off-grid solar applications and 7 million sq.m. solar thermal collector area in the first phase of the Mission, till 2012-13.

According to reports, India will cancel licenses for solar projects awarded to companies under its first auction if they don’t obtain loans to build their plants by July 9, an official said today.

“That’s it. They’ll be over,” Deepak Gupta, secretary at the Ministry of New and Renewable Energy, said in an interview in New Delhi to Bloomberg earlier this week when asked what would happen to projects that don’t meet the deadline.

Rather than fining companies for delays, their project licenses will be revoked, he said.

Companies were given six months from the date of signing power purchase agreements to line up financing for their projects.

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