Indian Solar Photo Voltaic (PV) projects are expanding with tremendous business opportunities. The Government has received 17 project proposals worth Rs 1,57,000 crore under the special incentive package scheme (SIPS). The Government has already given clearance to 12 PV applicants including Titan Energy Systems, Reliance Industries, Tata BP Solar Power, and PV Technologies India (a subsidiary of Moser Baer). Together these projects involve an investment of Rs 76,500 crore over a 10-year period.
Other PV projects that have been given the technical green signal are KSK Surya PV Ventures; Signet Solar, Indo-Solar Ltd (formerly Phoenix Solar India); Solar Semiconductors, TF SolarPower, Lanco Solar Pvt Ltd, EPV Solar and Bhaskar Silicon.
12 applicants who recently received in-principle nod for PV projects filed under special incentive package scheme (SIPS) are asked to complete their financial closure by August 31.
The release of funds under the SIPS will happen once the companies have incurred threshold expenditure on projects (Rs 2,500 crore for fab units, and Rs 1,000 crore for eco-system units including PV).
Source: Business Line
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