Punjab to see investments of Rs 2500-3000 crore in solar energy in the coming years

According to reports, the Punjab government is planning to encourage solar power investment in the state. The state may see investments up to Rs. 2500-3000 crore in the coming years by top solar power firms.

Some of the companies involved are- Lanco Solar Energy, Punj Lloyd Infrastructure, Moser Baer Clean Energy, Essel Infra Projects, Asopus Infrastructure (India Bulls), Welspun Solar Punjab , Azure Urja.

The investments are also bound to create more jobs in the state and a total capacity of 250 MW of solar power will be added. Punjab has a target of increasing its renewable energy share to 1000MW in the next four years.

Punjab is blessed with over 300 days of sunshine annually and has huge potential in solar power sector.

Next step will be to commence the instalment of Biomass plants in the state. The state has a lot of agricultural residue that can fuel such plants.

Punjab Deputy Chief Minister Sukhbir Singh Badal handed over letter of awards to 26 developers for 250 MW solar power projects.

Reference;

Business standard

PEDA

Image credit