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Govt Relaxes Norms for Building Solar Plants
June 25, 2018
The Ministry of New and Renewable Energy (MNRE) has relaxed various norms for the solar power plant developers regarding the time constraints for financial disclosure, land acquisition, and commissioning period. Now land acquisition documents can be submitted within 12 months after signing the power purchase agreement (PPA) instead of 7. Similarly, proof of funding agreement and financial closure can be submitted within 12 months instead of 7 months.
Currently, India ranks fourth on the renewable energy country attractive index. It lost two positions last year to US and Germany although China continues to stay at the no.1 position for the last 3 years.
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