NEW DELHI : The government plans to introduce a viability gap funding (VGF) scheme to support capital-intensive floating solar projects, two people familiar with the development said.
“The scheme would be designed to meet the gap of 25-30% in the overall cost that developers find difficult to spend on such projects. The sector would require some support to grow as it requires higher investments and is still in the nascent stage in the country," one of the people said, requesting anonymity.
The government aims to attract private investments in costly power generation technology to reduce the reliance on vast stretches of land to set up solar parks.
Queries mailed to the spokesperson for the ministry of new and renewable energy remained unanswered.
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