Punjab State in India Attracts Rs.1450 Crore Investment In Renewable Energy Sector

These power projects are to be set up in the State on Build, Operate and Own (BOO) basis and private investment to the tune of Rs. 1450 Crore has been attracted in this sector.

The Punjab Energy Development Agency (PEDA) has finalized the allocation 31 decentralized Biomass Power Projects with aggregate capacity of 338 MW to private developers for setting up biomass based power projects having capacity ranging from 5 MW to 20 MW in 31 Tehsils of the State on the basis of competitive bidding in line with the State New and Renewable Sources of Energy Policy.

Viswajeet Khanna, Secretary, Science & Technology said that these power projects are to be set up in the State on Build, Operate and Own (BOO) basis and private investment to the tune of Rs. 1450 Crore has been attracted in this sector. Out of these, 21 such projects having total capacity of 220 MW have been allocated to the private developers. All these power projects are scheduled to be commissioned by September 2010.

PEDA has also facilitated and commissioned 6 Biomass Cogeneration Projects with a total capacity of 39 MW and 4 such projects of total capacity of 91 MW were under advanced state of execution.

Another 8 Cogeneration Biomass Projects with a total capacity of 71 MW were in the pipelineHe said that these power projects being environment friendly would help in abatement of Green House Gases (GHG) emissions responsible for global warming and help the state in earning carbon credits.

State Government was committed to promote renewable power through private sector by providing attractive tariff and fiscal incentives for these projects in order to add 1000 MW capacity to the state grid through renewable resources in the next two years.

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