Published On : Tue, Mar 31st, 2015

Solar power opens gates for Huge Investments

DSC_0166Nagpur: Vidarbha Industries Association (VIA) in association with Business Standard organized the panel discussion on ‘Make in India through Solar Power Initiatives’ at VIA Hall.

Considering the huge rise in demand for power in the country, the Government is focusing on clean energy to meet the future requirements. Solar energy has gained prominence as an important source of producing clean energy from sunlight, which is available in abundance, As the Government begins to open up the solar power sector, the move would create immense opportunities to be explored by businessmen and industrialists.

“With the opening up of solar power sector, there will be huge opportunities to be explored by businessmen,” said R B Goenka, Director of MSEDCL Holding Company, Goenka said that the State Government was preparing a draft solar power policy. The draft policy would be available online for suggestions and objections from stakeholders in the near future. Public participation was needed to frame a good policy in the interest of the consumers. Within the draft policy, a project of 7,500 MW would be set up with public private participation for production of energy. He highlighted the draft policy included incentives to be provided to solar parks. Solar power would be available through competitive bidding process and open access would be freely given. The Commission would decide the interest rate. Also, land would be provided by the Government with lease deed to produce 2 MW on four hectare of land with 10 year electricity generation exemption.

He elaborated that he was in the process of preparing a solar policy comparison with other states like Madhya Pradesh, Gujarat, Andhra Pradesh, etc. There were various issues like VAT exemptions on purchase of equipment, low interest rates on loan, procurement of land at concessional rates, electricity duty exemption, stamp duty exempt ion, cash subsidy, capacity limit, etc. Goenka said that the draft policy was totally insufficient and public opinion was required to make the policy viable and to attract investments in solar energy which offered huge opportunities for entrepreneurs.

Girdhari Mantri, Director of Purti Solar Systems Private Limited, Nagpur said ”Solar power has a bright future and has the potential to offer huge opportunities to manufacturers and entrepreneurs.” The coal-based power generation was inadequate to meet the present and the future demands as the price of coal would keep on rising thereby increasing the cost of power. With the focus on solar power it would create a huge market for solar products like solar water pumps, solar street lights, solar power packs, solar panels, connectors, batteries, solar cell manufacturing, inverters etc, he added.

Jaspal Singh, Managing Director of Amitasha Enterprises Private Limited, Nagpur said that entrepreneurs should get in to the solar energy sector without hesitation. He elaborated that a person could start by working with a handful of experts, a little research and small amount of capital. There were limitless opportunities in solar energy sector. Vishal Chabbria moderator of the panel discussion said that ‘Smart Business’ was an event series of Business Standard to work with trade associations and industry bodies at a local level and help highlight issues of concern. Acting as a neutral platform; it helped to listen multiple voices including those of industry representatives and academicians. He said that Business Standard provided in-depth analysis of issues written by highly acclaimed people, decision-makers and experts in their field of working.

Earlier Praful Doshi, Past President of VIA welcomed the panelists, Rohit Agrawal, Hon Secretary – VIA conducted the proceedings and also proposed a vote of thanks. The programme got tremendous response and was attended by large number of industrialists, consultants, solar equipment manufacturers, dealers of solar panels, solar geysers, Solar Energy System Dealers, Solar Light Dealers, Solar Panel Manufacturers.