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Gujarat is aiming to generate 900 MW of solar power, of which 300 MW of grid-connected solar power will be commissioned by December 2011, a senior official said here.
Addressing a seminar, Mr D.J. Pandian, Principal Secretary, Department of Energy and Petrochemicals, said that another 200 MW of solar power could also be commissioned this year if developers put in adequate efforts. In the next five years, the State has the potential to commission 3,000 MW of renewable energy.
Recognising Gujarat's efforts in developing renewable energy, Mr K.S. Popli, Director, Indian Renewable Energy Development Agency (IREDA), said the State was a leader in pushing its solar power policy as a mission to combat environmental degradation and achieving a sustained growth.
Speaking on ‘Financing of Solar Power Projects', he said lenders and venture capitalists preferred to invest in the State, given its front-loaded offer of Rs 15 per unit as tariff, for solar power projects.
Mr Rajat Misra, Senior Vice President, SBI Capital Markets Ltd, said that while investors were ready to invest in solar power projects in the state, they needed specific answers regarding their queries relating to the projects.
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