PUNE: Pune Municipal Corporation (PMC) has given nod to form a special purpose vehicle (SPV) to generate solar power and purchase it from the company that sets up the plant for next twenty years at a fixed rate.
PMC along with the Centre’s Energy Efficiency Service Limited (EESL) plan to generate the solar power and utilise it. The plant is planned to come up in Marathwada or Vidharba region on government land.
PMC standing committee chairman Hemant Rasne said, “It is decided that SPV would invest twenty percentage and 80 percentage would be raised through loan for erecting solar plant. In the twenty percentage share, PMC would bear 26 percentage and SPV would invest 74 percentage share. It is expected that the total solar project cost would be ₹250 crore. PMC would need to give Rs12.48 crore as investment. Even it is mandatory to PMC that it would need to purchase at least 51 percentage energy generated through the plant.”
