Union Cabinet gives nod for 15000 MW grid-connected solar projects

Union Cabinet on 25 February 2015 approved the implementation of the scheme for setting up of 15,000 Mega Watt (MW) Grid-connected Solar Photo Voltaic Power projects under the National Solar Mission.
This decision was taken at Union Cabinet meeting chaired by Prime Minister Narendra Modi.
Facts about approved Scheme

• It will be implemented under the National Solar Mission through state-run National Thermal Power Corporation (NTPC) Limited and its subsidiary NTPC Vidyut Vyapar Nigam (NVVN) Limited.
• This project will also accelerate the process of achieving grid tariff parity for solar power and help to reduce consumption of conventional fuel such as kerosene and diesel.
• Bundled power produced from these projects will allotted to various states that will provide land for setting up projects.
• In case of projects development both private and government companies can take part in it. But they will be allocated projects through international competitive bidding.

Month: Current Affairs - February, 2015