Karnataka proposes to develope 300 MW of Solar Power by 2016

Karnataka has notified draft policy on Solar Power development for the state of Karnataka. According to the drat policy, Karnataka is gearing up to install total 300 MW of additional capacity from Solar power plants (PV & Thermal collectively) in a phased manner by year 2015-2016.Of these 300 MW, 200 MW of capacity is envisaged to be purchased by Energy Supply Companies (ESCOMs) of Karnatakato meet their Renewable Portfolio Obligations (RPO) which currently stands at 0.25% for FY 2010-11.
The proposed policy also envisages participation of Solar Projects into REC Mechanism as approved by Karnataka Electricity Regulatory Commission and Central Electricity Regulatory Commission.
As there is already a lot of buzz going around for Solar RECs, with this new policy under implementation, Karnataka is likely to see mach larger level of participation from investors in Solar power generation in coming times. Our April’11 newsletter – OPEN-ACCESS has covered a detailed analysis on feasibility study of Solar RECs for solar investors.