Mr. Piyush Goyal , Union power Minister bestowed 5 awards to Punjab for the exceptional performance in the various fields of Renewable Energy Power Generation including the first award for highest capacity addition in grid connected solar rooftop power in the country during the financial year of 2014-15.
These awards were awarded to Punjab during the foundation day function of association of Renewable Energy Agencies of State (AREAS) held at Bengaluru. The other four areas include achieving highest cumulative grid-connected solar rooftop power capacity, deployment of highest cumulative numbers of solar water pumps, the highest capacity addition of off-grid waste to energy plants, and achieving highest capacity addition in grid-connected solar power in the country. Union Territory of Chandigarh bagged the second spot in the highest capacity addition in grid connected solar rooftop power in the country category.
The department of New and Renewable Energy has become the flag bearer in scripting the accomplishment investments in the State. The pro-business climate developed during past 8 years is cheering a number of national and multinational companies to invest in Punjab. Punjab is excelling in the field of green energy with the addition energy capacity in the country. These awards have strong facilitation for doing business and have attracted Rs 7500crore investment in the state.
Punjab Energy Development Agency (PEDA) has received 18 bids with cumulative capacity 1650 MW against offered capacity of 500 MW because of the state’s best solar policy, acquiring of hassle-free land and land lease policies, pro-business policies, incentives, infrastructure and power provision that in the third phase bidding for solar projects.
A+ rating of PSPCL has created an investment friendly environment in the State. The stable policy environment for the development of renewable energy, fiscal and financial incentives being provided by the state under NRSE Policy-2012, time-bound approvals, and clearances being provided at a single source by Punjab Investment Bureau, bankable power purchase agreement for 25 years . Punjab was not only competing with large states like Tamil Nadu, Maharashtra, Madhya Pradesh, Andhra Pradesh and Gujarat but also leading the way in renewable energy capacity addition in the country.
Today, the agrarian Punjab has become Progressive Punjab and is marching towards the higher orbit of economic development ensuring higher standards of living for its citizens.