With 54 cities across the country to be developed as ‘solar cities’, there is likelihood of investments in the renewable energy sector picking up
Fifty-four cities across India have received in-principle approval to be developed as ‘solar cities’ by the Ministry of New and Renewable Energy.
The draft Master Plans have been prepared for 28 cities, of which eight have been approved by the Ministry for implementation; the development of projects is in progress in Agra and Moradabad (Uttar Pradesh), Thane and Kalyan-Dombivli (Maharashtra), Indore (Madhya Pradesh), Kohima (Nagaland), Aizawl (Mizoram) and the Union Territory of Chandigarh.
An amount of Rs. 19.23 crore has been sanctioned for preparation of Master Plans, solar city cells and promotional activities for 41 cities, out of which Rs. 4.22 crore has been released. Further, an amount of Rs.11.98 crore has been sanctioned for execution of renewable energy projects in five cities, out of which Rs. 3.87 crore has been released.
According to New and Renewable Energy Minister Farooq Abdullah, the criteria set by the Ministry for the identification of cities include a city population between 50,000 to 50 lakh (with relaxation given to special category States, including the north-eastern States), initiatives and regulatory measures already taken along with a high level of commitment in promoting energy efficiency and renewable energy. Dr. Abdullah said renewable energy has the potential to be cost effective with advancement in technologies and economies of scale. Power generation from renewable is at present generally more expensive than that from conventional sources. While cost of power generation from wind, biomass and small hydro are comparable with cost of power from conventional sources, solar power may take some more time to achieve grid parity. The total installed capacity of renewable energy-based power in the country is 26,267 MW. A capacity addition of 30,000 MW is proposed from renewable energy during the 12th Plan period. The Ministry is supporting research in various renewable energy technologies for improvement in efficiency, reduction in cost and to develop new applications. Meanwhile, global venture capital (VC) investments in the solar sector have touched a five-year low — down by nearly 50 per cent in 2012 to $992 million involving 103 deals compared to $1.9 billion raised from 108 deals in 2011.
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