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Central

Installation of 10,000 nos. of solar photovoltaic water pumping systems for irrigation prupose implemented through National Bank for Agriculture and Rural Development (NABARD) throughout the country

Last IREEED Review: 02 April 2014
Program Overview
State: Central
Technology : Solar PV
Date of Issue : 27 March 2014
Nodal Agency : State Renewable Energy Development Agency
 
Summary
Financing and installation of 10,000 nos. of solar photovoltaic water\npumping systems for irrigation purpose to individual farmers to be\nimplemented through National Bank for Agriculture and Rural Development\n(NABARD) throughout the country . SPV pumping systems can easily meet\nthe irrigation requirements for land holdings for small and marginal farmers.\nDue to lack of grid power electricity, a large number of diesel pump sets are\nbeing deployed every year in the country. This project involves subsidy with\nmandatory loan to individuals by regional rural banks and other commercial\nbanks at nominal interest rate. It will obviate farmers from long distance\ntravels to procure and transport diesel. It will increase the cropping intensity\nof the states through this intervention provided.Ministry will provide up to 2% of Central Financial Assistance (CFA) as service charges to NABARD for towards implementation and monitoring of SPV pumping systems. Ministry will provide 40% of the system cost as subsidy limited to Rs. 76 per watt peak (Wp) capacity of Solar water pumping system having solar module capacity up to 5kWp, routed through NABARD to RRB?s and Commercial banks. 20%of the cost of the pumping systems will be beneficiary contribution and remaining amount will be extended as loan by the banks at nominal rate of interest to the beneficiary.
 
 
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