Provide easy credit for solar power projects: Bikram Singh Majithia

Punjab government today asked banks and financial institutions to provide easy credit to solar power developers in the state.

It is high time for financial institutions and banks to provide easy credit to solar power developers in the state, Punjab New and Renewable Energy Minister Bikram Singh Majithia said.

The minister said, the state’s present new and renewable power generation capacity is 811 MW and it is planned to take this capacity to 5,400 MW by 2022.

The state’s initiatives in renewable energy have an estimated investment potential of Rs 33,000 crore out of which Rs 23,000 crore is required to be financed by banks, he added.

He informed that IDBI Bank has rolled out a new scheme called ‘Surya Shakti’ for financing solar power projects by individual households.

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