Question : PROMOTION OF ROOFTOP SOLAR SYSTEM

(a) whether the Government proposes to promote rooftop solar system across the country;

(b) if so, whether his Ministry has sought loan from German Bank in this regard;

(c) if so the details thereof;

(d) whether hedging against Rupee fluctuation makes the loan expensive for domestic borrowers;

(e) if so, whether his Ministry has sought sovereign guarantee of Ministry of Finance to keep the interest rate down and avail the loan amount from German Bank;

(f) if so, the response of the Government thereto; and

(g) the other steps being taken by the Government to arrange more funds from foreign agencies in order to spur growth in the cash starved renewable energy sector?

THE MINISTER OF STATE FOR POWER, COAL & NEW AND RENEWABLE ENERGY (INDEPENDENT CHARGE) (SHRI PIYUSH GOYAL)

(a): Yes,Madam. Ministry of New and Renewable Energy is implementing ‘Grid Connected Rooftop and Small Solar Power Plants Programme’ for installation of roof top solar systems from 1 kWp to 500 kWp capacity in residential, commercial, institutional and industrial buildings. The programme has a provision of Central Financial Assistance of Rs. 24 per watt capacity of the system.

(b)&(c): Yes, Madam. The Ministry has sought loan of one billion Euro (€) from German Bank, Kreditanstalt fur Wiederaufbau (KfW) to provide loans to the end users for installations of grid-interactive rooftop solar plants.

(d): Yes Madam.

(e)&(f): Yes Madam. Ministry has sent proposal to Department of Economic Affairs for consideration. They have asked for in principle approval of Planning Commission and Internal Finance for which action has been initiated.

(g): The Indian Renewable Energy Development Agency (IREDA), a Public Sector Undertaking of the Ministry has been raising funds from the foreign agencies i.e., Kreditanstalt fur Wiederaufbau (KfW) Germany, Japan International Cooperation Agency (JICA), US Exim Bank, European Investment Bank, French Agency for Development (AFD) France etc.. The Ministry is organizing ‘RE-INVEST’, a ‘Renewable Energy Global Investment Promotion Meet and Expo’ during 15-17th February 2015 in New Delhi to attract Investments from foreign agencies to spur growth in renewable energy sector.