Telangana: Bandi Urges Coop Societies To Set Up Solar Plants
A one-megawatt plant can be set up on one acre of land at a cost of Rs 3.80 crore: Bandi Sanjay
ADILABAD: Union minister of state for home affairs Bandi Sanjay on Wednesday urged individuals and cooperative societies to set up solar power plants under the PM Kusum Yojana, citing availability of bank loans and income potential.
Speaking to the media after visiting a solar power plant on the outskirts of Choppadandi, he said only five such plants have been established in the state so far, including one in Choppadandi in Karimnagar district and four in Peddapalli.
He called upon cooperative societies to participate in the scheme and said a one-megawatt solar power plant could generate an annual income of around Rs 50 lakh.
Bandi Sanjay said a one-megawatt plant can be set up on one acre of land at a cost of Rs 3.80 crore. Of this, a cooperative society would have to contribute Rs 40 lakh, while the remaining Rs 3.40 crore could be availed as a loan from NABARD at an interest rate of 4 per cent. He added that 3 per cent interest would be reimbursed if repayments are made on time.
He said the Centre is encouraging solar power generation and that discoms would procure solar power at Rs 3 per unit.
The minister also visited a Jana Aushadhi outlet in Choppadandi and reviewed its operations.