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The Punjab Government and Punjab Energy Development Agency (PEDA) felicitated Punj Lloyd Infrastructure Ltd, a subsidiary of Punj Lloyd for early commissioning of 20 Mw solar power project. The company has total portfolio of 40 Mw solar in the state.
Punj Lloyd has commissioned the project one month ahead of schedule. Punj Lloyd adopted an innovative concept of taking semi-fertile land on lease from local farmers with annually escalating rentals, providing a stable and growing source of income for the local farmers without losing the ownership of land. "While on one side, this guaranteed an escalation of 5% every year to the farmers, this put the less fertile land available in the State to the best alternative utilisation, resulting in a win-win situation for the local farmers, developers and the State Government to achieve their respective goals," said Atul Punj, founder & executive chairman of Punj Llyod.
Punjab's capacity to generate solar energy has increased from 9 MW in 2012 to 541 MW this year, and an investment of Rs 4,000 crore had come into this sector in the state.
