Cabinet committee on economic affairs (CCEA) has approved setting up over 5,000 Mega Watt of Grid-Connected Solar Photo Voltaic Power Projects on build, own and operate (BOOT) basis.
Decision in this regard was taken by Union Cabinet meeting chaired by Prime Minister Narendra Modi in New Delhi.
These projects will be
- Set up in four trenches of each 1,250 MW capacity during four succeeding financial years from 2015-16 to 2018-19.
- Implemented by Solar Power Developers with Viability Gap Funding under Jawahar Lal Nehru National Solar Mission (JNNSM).
- Cost is five thousand fifty crore rupees over five years and the total investments expected under the JNNSM scheme is about 30,000 crore rupees.
These projects will generate employment to 30 thousand people and help in reduction of more than 8 Million tonne of CO2 emissions into environment every year.
Jawaharlal Nehru National Solar Mission (JNNSM): It was launched in 2010 by the Union Government with a target to setup 20,000 MW of grid connected solar power by 2022. Later in 2014, the target was enhanced upto 1,00,000 MW.