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Punjab Renewable Energy Policy expects to attract Rs 180 billion investments

According to reports, the New and Renewable Energy Policy, 2012 would attract an estimated investment of Rs 18,000 crore besides providing direct and indirect employment to more than 25,000 youth in Punjab.

Disclosing this here today, Non-Conventional Energy minister Bikram Singh Majithia, said that the revolutionary policy approved by the Punjab Cabinet would not only change the energy scenario in the state but also generate more employment avenues for the people.

Besides attracting large investments, it would also generate 10 per cent of the total power installed capacity thus bridging the gap between demand and supply, he said.

Elaborating the features of policy, Majithia said that the policy is also the alternate for the conventional power generation in view of the depleting minerals and other natural resources.

The new targets of power generation have been fixed by different modes – Solar, Biomass, Co-generation power projects.

He said that 1000 MW would be generated through Solar Power, 600 MW would be generated with Biomass Power, 500 MW with Co-generation Power Project, 250 MW Small/Mini/Micro Hydel and 50 MW from Urban, Municipal and Industrial Liquid/Solid Waste.

The minister said that in view of interests of state peasantry, under this new policy the agricultural land would also be allowed to use for setting up of Renewable Energy Power Projects in the state and no CLU, EDC or any other charges/fees for the same are to be paid.

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