Batch I guidelines for Phase II of India's National Solar Mission approved17. October 2013 | Applications & Installations, Global PV markets, Industry & Suppliers, Markets & Trends | By: Ian Clover
A draft proposal to introduce a change to the payment of the Viability Gap Funding (VGF) assistance announced earlier this month has now been approved.
The first batch of guidelines for India’s Jawaharlal Nehru National Solar Mission (JNNSM) Phase II have been approved.
When the guidelines for Phase II were initially published earlier this month, the Batch I proposal outlined a change to the Viability Funding Gap (VGF) that would allow developers to apply for support to cover 30% of project costs, or INR25 million/MW, whichever is the lower, so long as they funded at least INR15 million/MW themselves.
This proposal was today rubber-stamped by India’s Ministry of New and Renewable Energy (MNRE), who upheld the full terms of the payment system, which were explained by pv magazine last week.
A second portion of the Phase II stipulation – revolving around domestic content requirements – was also upheld.
Under the ruling, project owners cannot sell their plants for the first 12 months at least, in an effort by the Indian government to discourage foreign owners acquiring Indian interests via back door means.
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