India’s Solar Power Generation Reached 8.7 GW

Addition of 1,964.76 MW in the first seven months of the current fiscal has taken the total solar power generation capacity in the country to 8,727.62 MW.

As on October 31, 2016, Solar Energy Projects with an aggregate capacity of over 8727.62 MW have been installed in the country.

1,964.76 MW of solar power generation capacity has been added in the country till October end of this financial year.

During last fiscal, 3,018.88 MW of solar power generation capacity was added in the country.

World Bank has recently approved a total amount of USD 625 million consisting of World Bank loan of USD 500 million, Clean Technology Fund (CTF) loan of USD 120 million and a CTF grant of USD 5 million for grid- connected rooftop solar programme.

An agreement for the rooftop loan was signed between the World Bank and the State Bank of India on June 30, 2016. Under this agreement the World Bank loan is taken by the SBI. Therefore SBI provides loan through its branches for installation of rooftop solar systems.

The government is considering the removal of distinction between large and small hydro (up to 25 MW). At present, small hydro projects of up to 25 MW are considered as renewable energy and are eligible for various incentives under different schemes of the government.