The Goa cabinet today approved the much-awaited Solar Power Policy, under which the state expects to generate 150 MW of power by 2021, Chief Minister Manohar Parrikar said here.
Parrikar, after chairing the cabinet meeting, also informed that the policy would become functional by the end of current financial year.
"Lot of people were anticipating the solar power policy. We had extensive discussions on the policy before finalising it," he said.
"It will take next two-three months to have proper documentation for the policy and by the end of this financial year, it will become functional and will start showing an impact," he said.
The chief minister said that the policy is divided into three categories- which includes even a unit producing up to 100 KV power.
The residential societies, which can generate less than 100 KV power would be compensated by the government under this policy as per the Joint Electricity Regulatory Commission rates depending on the gross metering, he said.
The units producing more than 100 KV power will be compensated on net metering as the unit operator would be participating in the reverse gridding of the power, he said.
The policy also encourages power generation by individuals, who either have their own land where they can set up the unit or can procure NOC from the land owners for it, Parrikar said.
"The land owner would be spared from the process of conversion of his land or permission from local panchayat or civic body, if he is installing solar power generation plant under the policy," he said.
"In such circumstances, the power producer will have to show the documents of the land and bank guarantee of six months. But the unit operator would be penalised in case of non-supply of power to the government or delay in it," he said.
The policy also speaks about providing 50 per cent of the project costs as interest-free loans to the units, which can be repaid in the form of supply of power to the state, six months after the unit is functional.
Parrikar said that the housing colonies can have their roof-top solar power generation by employing one contractor if all the owners come together.
State Power Minister Pandurang Madkaikar said the Centre has given a target that by 2021, Goa will have to produce 150 MW of power.
"So initially, we will go for 50 MW power. After that we will add another 50 MW," he said.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)