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Follow on Google News | IFC Concludes First Rooftop Solar Project, to Replicate Five More in IndiaIFC is also developing a policy framework for the replication of rooftop solar concept in Gujarat based on the experience gained in Gandhinagar
By: www.ifc.org The two pilot projects of 2.5 megawatt each demonstrated the viability of generating solar power through a grid-interactive system on rooftops, and will serve as a model for roll-out across the cities of Bhavnagar, Mehsana, Rajkot, Surat and Vadodara. IFC is also developing a policy framework for the replication of rooftop solar concept in Gujarat based on the experience gained in Gandhinagar. This program is the first of its kind in India and aims to be a benchmark for green energy generation at the household level. The two pilot projects will produce approximately nine million units of clean energy and help to avoid 6,000 tons of greenhouse gas emissions per year. The project will also help to mobilize private sector investment of approximately $12-14 million. "We want to fully exploit the potential of solar power generation,” The project aims to help the government introduce public-private participation in generating a green energy source. The solar installations will convert sunlight into electricity and directly feed into the electrical grid. The Public Private Partnership and Sustainable Business Advisory team of IFC structured the project and advised the Gujarat Energy Research and Management Institute and Gujarat Power Corporation Limited, the two state supported agencies for implementing solar power, on the global competitive bid process. “Gujarat is pioneering the adoption and promotion of clean energy by installing rooftop solar plants in the state,” said Anita M. George, IFC Director for Infrastructure in Asia. “The project will provide economic opportunities to the local residents, whose rooftops will be used for the installation of solar panels.” Successful implementation of the business model for the rooftop solar project in a leading state like Gujarat will encourage similar models to be adopted in India and elsewhere in the region. To learn more about IFC’s public-private partnership transactions, visit www.ifc.org/ To learn more about IFC’s sustainable business advisory services, visit http://www1.ifc.org/ To learn more about Gujarat Power Corporation Limited, visit www.gpclindia.com To learn more about Gujarat Energy Research and Management Institute, visit www.germi.org. About IFC IFC, a member of the World Bank Group is the largest global development institution focused exclusively on the private sector. We help developing countries achieve sustainable growth by financing investment, providing advisory services to businesses and governments, and mobilizing capital in the international financial markets. In fiscal 2011, amid economic uncertainty across the globe, we helped our clients create jobs, strengthen environmental performance, and contribute to their local communities - all while driving our investments to an all-time high of nearly $19 billion. For more information, visit www.ifc.org Stay Connected www.ifc.org/ www.facebook.com/ www.twitter.com/ www.ifc.org/ www.twitter.com/ www.youtube.com/ www.ifc.org/ In New Delhi: Minakshi Seth Phone: +91 11 4111 1000 E-mail: MSeth@ifc.org Surbhi Khatry Phone: +91 11 4111 1000 E-mail: SKhatry@ifc.org End
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