Govt spending 1.2L cr on solar projects, unemployed youth to benefit the most

New Delhi: The government is soon to come out with a special plan to employ its jobless technical and business graduates. It is working on a Rs 1.2 lakh crore scheme to set up solar
govt spending 1.2l cr on solar projects...
India TV News Desk 21 Jan 2015, 06:57 PM IST

New Delhi: The government is soon to come out with a special plan to employ its jobless technical and business graduates. It is working on a Rs 1.2 lakh crore scheme to set up solar projects of 20,000 mw capacity.

The project which is expected to fulfill atleast one-fifth of the total solar power target  till 2021-22 will provide jobs to qualified unemployed or under-employed youth in the next five years.

Youngsters with a B.Tech, MBA or M.Com degree and not older than 35 years, who either do not have a job or are under-employed will be eligible for a project under this scheme. They can apply for a project either individually or in partnership.

According to a report published in Times of India, government has plans to take solar power capacity to 100,000 mw by 2021-22. The Centre will also invest around Rs 16,050 crore to control power tariff to make it affordable for state utilities.

According to the plan, the interested state governments will approach the renewable energy ministry and share their need for the solar power which on being assessed by the latter will be allocated to the eligible developers, with firs priority to the unemployed youth.

Next to them, it will be village panchayats or municipal bodies on the preference list.

In case any leftover capacity is to be allotted to independent power producers, unemployed youth must hold more than 26% but less than 51% equity in such a company or organization.  Accordingly, he is liable to share the revenue earned by the company in proportion to their holding.

The spare capacity identified in sub-stations will decide the size of allocated power projects. Accordingly, the state utilities will notify the tariff, factoring in the central assistance and give each solar plant a 25-year PPA 9power purchase agreement) to ensure the viability of project.

Solar Energy Corporation of India will act as the key agency in this case. It will provide help in setting up mega solar power projects, handling the funds and any other assistance.

In return, the organization will earn 1% of the funds that it will handle.

 
   
 

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