Indian state wants to subsidize clean energy

Part of Tamil Nadu's solar ambition.

The Tamil Nadu Energy Development Agency, in charge of clean energy development in the State, wants to sanction subsidies for solar photo-voltaic projects.

It is seeking permission from the Ministry of New and Renewable Energy.

At present, TEDA sends the application for approval by the ministry.

The ministry provides a 30% subsidy on capital expenditure or Rs 90 per watt power for roof-top solar systems up to 100KW. The Union government also provides loans at 5% per annum for half of the capital expenditure for a five-year tenure. Commercial entities can claim one of the two subsidies.

"We are in talks and are expecting a positive reply," said Sudeep Jain, Chairman and MD of TEDA, at a meeting in Chennai for promoting solar power installation in colleges.

The State, reeling under a massive power deficit, unveiled an ambitious solar policy in October. It is targeting 3,000 MW in solar power by 2015, with 300 MW coming from solar roof-tops.

For more.

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