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Home » CleanTech/ Renewable Energy » Solar energy corporation of India (SECI) to handle Viability-gap funding of solar projects in Phase II

Solar energy corporation of India (SECI) to handle Viability-gap funding of solar projects in Phase II

According to reports, Grid connected rooftop solar projects will come in a big way in the second phase of the Jawaharlal Nehru national solar mission (JNNSM) and there will be a huge impetus to off-grid solar applications, said Tarun Kapoor, joint secretary, ministry of new and renewable energy at the 6th Renewable Energy Expo.

In the second phase, government plans to add 3,000 mw of solar power to the current capacity of 1100 mw. It also plans to roll out new means of financing for the solar projects. ” We plan to include various financing measures along with power bundling with conventional power like viability-gap funding (Vgf) and generation-based incentives. Vgf will be given greater importance and the newly formed Solar energy corporation of India (SECI) will take care of it,” said Kapoor.

Government is looking at an investment of Rs. 1 lakh crore in the second phase. Huge support will also be given to off-grid, grid connected rooftop and solar thermal projects. “We will roll out a simple scheme for off-grid solar applications. A pilot project of 10 mw will be started in the grid-connected rooftop soon,” said Kapoor.

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