India's MNRE approves financial closure on 610 MW of PV, CSP projects

India’s Ministry of New and Renewable Energy (MNRE) announced that 36 solar project developers with power purchase agreements (PPAs) under the latest round of the Jawaharlal Nehru National Solar Mission (JNNSM) have reported financial closure.

The MNRE has accepted the documents of 35 of these developers for 610 MW of new solar photovoltaic (PV) and concentrating solar power (CSP) capacity, with one 5 MW project failing to meet the qualifications.

 Under the JNNSM, project developers are required to achieve financial closure within six months from the date of signing PPAs with NTPC Vidyut Vyapar Nigam Ltd. (NVVN, New Delhi, India).

 India to increase solar project sizes

MNRE Secretary Deepak Gupta has stated that India plans to make changes to its solar program, including loosening timelines and increasing maximum project sizes, in order to attract larger companies.

On August 1st, 2011, the Indian government released a list of 20 PV plants 1 MW and larger that have been commissioned since August 2009, for a total of 45.5 MW.

The JNNSM has a goal of 20 GW on on-grid PV and CSP by 2020, and 2GW of off-grid solar; however industry analysts including Raj Prabhu of Mercom Capital (Austin, Texas, U.S.) have noted that the nation faces multiple challenges in reaching that goal.

Source: solarserver

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