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Developers to get 2 years now for implementing solar project

The government has decided to increase to 2 years the time given to developers for setting up solar energy projects, a move which is expected to lead to competitive tariffs. It was 15 months earlier.The power ministry has amended the guidelines for tariff based competitive bidding process for procurement of power from grid connected solar PV power projects on June 14, 2018, an official said.The amendments are related to providing longer time-frame to set up solar projects, he added.Under the new norms, the developers would have to commission solar projects of 250 MW and above within 24 months from the date of signing power purchase agreement (PPA) as against the previous time frame of 15 months.
Source: Latest News

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