In a recent development, the Ministry of New and Renewable Energy (MNRE) has extended the timeline of the Solar Park Scheme until the fiscal year 2025-26, specifically until 31st March, 2026. An office memorandum to this effect, dated 16th June, 2023, was issued on 20th June, 2023.
The decision to extend the timeline of the Solar Park Scheme was made in reference to several official memorandums. Initially, the guidelines for the Solar Park Scheme were issued on 21st March, 2017, outlining the framework for the implementation of the scheme. Subsequent modifications were made on 2nd July, 2018, and again on 2nd March, 2021, providing an extension to the timeline of the scheme.
The present OM makes a further extension in the timeline of the scheme. This extension comes without any additional financial implications, ensuring continuity and support for the solar energy sector in India.
The Solar Park Scheme, initiated by the MNRE, aims to facilitate the development of large-scale solar parks across the country. These parks serve as dedicated areas for solar power generation, attracting investments and promoting the growth of renewable energy sources.
By extending the timeline until March 2026, the MNRE provides developers, stakeholders, and investors with an extended period to plan, execute, and complete solar park projects. This extension will help ensure the timely implementation of projects and the utilization of available resources effectively.