Govt pins hopes on new green policy to attract investment

The New and Renewable Energy Policy-2012, which was approved by the Punjab cabinet on Sunday, is likely to attract an estimated investment of Rs 18,000 crore besides providing employment to over 25,000 youth.

Non-Conventional Energy Minister Bikram Singh Majithia said that the policy will not only change the energy scene of Punjab but also generate more employment avenues. "Besides attracting large investments, it will also generate 10 per cent of the total power installed capacity, thus, bridging the gap between demand and supply," he said, adding that the policy is also an alternative to conventional power generation in view of depleting minerals and other natural resources.

"While 1,000 MW will be generated through solar power, 600 MW will be generated with biomass power, 500 MW with co-generation power project, 250 MW small/mini/micro hydel and 50 MW from urban, municipal and industrial liquid/solid waste. In the interest of the state peasantry, agriculture land will also be allowed to be used to set up such projects and no CLU, EDC or any other charges will have to be paid," said Majithia.

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