Financial Closure of Solar Energy Projects in India

36 project developers who had signed Power Purchase Agreement (PPA) with NTPC Vidyut Vyapar Nigam (NVVN) for setting up of 615 MW capacity of grid power projects under the Jawaharlal Nehru National Solar Mission, in January, 2011 have reported financial closure by the due date of 9th July, 2011. The solar power project developers were required to achieve financial closure in six months from the date of signing PPA.

In a written reply to a question in Rajya Sabha, Minister of New and Renewable Energy Dr. Farooq Abdullah informed that NVVN has accepted the documents of financial closure of 35 project developers for setting up of 610 MW solar power capacity. One project for 5 MW capacity has failed to meet the requirements.