The government is likely to roll out bids to set up solar power projects to tune of around 7,500 MW in Ladakh and Leh region with contentious issues getting nearly resolved at various levels, India Renewable Energy Development Agency (IREDA) chairman K S Popli indicated.
Addressing a conference on “Renewable Energy – Challenges and Way Forward” under the aegis of PHD Chamber of Commerce and Industry here, Popli also announced that IREDA’s total loan disbursal would reach around Rs 9,500 crore by end of current fiscal keeping in view the focus of the government for harnessing the potential of non-renewable, largely solar and the enthusiasm that follow for commissioning of such projects.
“We at IREDA are of the view that the loan disbursal for the non-renewable projects and particularly solar plants will witness a hike of 30 per cent by the end of next fiscal which could be estimated at around Rs 12,350 crore,” Popli said, adding that IREDA would source the disbursal funds from various multilateral agencies including domestic financial institutions at relaxed rates.
Another important milestone that the Agency would be embarking on is to aggressively fund for “solarisation of diesel agri pumps” across the country with multiple socio economic objectives.
According to him, there are roughly 3 crores of diesel pumps currently in operation for agriculture purposes of which 27 lakh pumps are required to be initially solarised and the IREDA would undertake the task of funding such conversion without disclosing any timeframe for it.
Elaborating on the bid process for 7,500 mw of solar power projects in Ladakh and Leh region, Popli indicated that the Ministry would finalise the bidding process for these power plants with or without subsidy as more clarity has emerged on such power projects.(UNI)
