Govt approves scheme to fast-track National Solar Mission

NEW DELHI: In an effort to fast-track the National Solar Mission, the Government on Thursday approved a scheme which will help in availability of funds for carrying out projects under the mission.

The Union Cabinet cleared the Payment Security Scheme to enable financial closure of projects under the mission by extending Gross Budgetary Support (GBS) amounting to Rs 486 crore to the New and Renewable Energy Ministry (MNRE), an official spokesperson said here.

The scheme will help MNRE in the event of defaults in payment by the state utilities to NTPC Vidyut Vyapar Nigam (NVVN), the Central Agency which will purchase solar power from the developers and sell it to the utilities bundled with unallocated thermal power available from NTPC utilities.

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Posted on June 15, 2011, in NEWS and tagged , , , , , , , . Bookmark the permalink. Leave a comment.

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