Solar under JNNSM… on the way of 250 MW capacity in two months…

According to MNRE (Ministry of New and Renewable Energy), around 90 MW of solar power projects from first back of JNNSM (Jawaharlal Nehru National Solar Mission) Phase I are being commissioned in this month and remaining projects of 60 MW capacity would be commissioned by next month.

Spark learnt that with this commissioning, India will be having more than 250 MW operational solar power projects in next two months.

The first phase of the JNNSM aims to commission 1,000 mw of grid-connected solar power projects by 2013. As per the MNRE, all issues of financing and higher cost of raw material like solar panels and modules are being looked at, paving way for Indian banks to fund the projects. The banks and financial institutions are now more willing after the government convened a national level meeting of bankers a few months back.

According to NVVN (NTPC Vidyut Vyapar Nigam Limited), the power procurer under JNNSM, the domestic banks are now  participating to fund the projects. Most of the private companies like Mahindra’s and even smaller companies like Jakson Power are getting their funds from domestic banks.In the past, most solar power producers had to bank on foreign debt.
Farooq Abdullah, union minister for new and renewable energy, said on Monday in Mumbai that international banks globally have a plan to spend around $48 billion on energy excesses.

NTPC Vidyut Vyapar Nigam (NVVN), a subsidiary of National Thermal Power Corporation, the largest power producer in India, is handling the implementation of the first phase of the national solar mission.