Cabinet approves setting up of 25 solar parks

The Union Cabinet has approved a scheme for the setting up of 25 solar parks.

Each of these parks will have a capacity of 500 mega watts and above.

A decision to this effect was taken at a Cabinet meeting chaired by the Prime Minister Narendra Modi here last evening.

These parks will be able to accommodate over 20,000 mega watts of solar power projects and will be set up over the next five years.

The Centre will extend financial support of Rs.4050 crores.

Smaller parks in the Himalayan region and other hilly states where contiguous land may be difficult to acquire in view of the difficult terrain, will also be considered, the cabinet said in an official statement.

The parks will be developed in collaboration with state governments and their agencies.

Finance Minister Arun Jaitley, while presenting the 2014-15 budget, had proposed to set up ultra mega solar power projects in Rajasthan, Gujarat, Tamil Nadu, and Ladakh, and had set aside Rs.500 crores for this purpose.

The objective behind the proposal is to achieve energy security and promote ecologically sustainable growth.